Tea News for the week ending November 4
Indicators Suggest a Recession is Imminent
Carman Allison, vice president of thought leadership at Nielsen IQ in Toronto, describes the unusual combination of slow growth and job gains set against rising interest rates and sharply higher inflation as a “consumer recession.”
“We are all trained to understand that you need two consecutive quarters of GDP contraction for a country to be officially in a recession. But we also know that by the time that actually happens, a lot of the economy is already in a recession,” he explains.
| The International Tea Academy Awards its First “Leafies”
| Sales of Herbal Infusions are Expected to Double this Decade
| PLUS Canadian Economist Sylvain Charlebois, senior director of the Agri-Food Analytics Lab at Dalhousie University, sees a lot of positives for the tea industry but cautioned that inflation is an economic disease that will linger. Supply chain challenges remain. He said the macro-dynamics around commodities are getting more complicated, adding, “The fall is not going to be an easy one.”