BARCELONA — There may be “green shoots” in the global economy but the consensus at the World Retail Congress here was that the retail sector had some way to go before returning to bloom.
Many delegates at the third edition of the event, which ran May 6 to 9, expressed uncertainty over the future, describing the recession as the worst they had experienced. Some predicted the industry could weather another 18 to 24 months of turbulence before making a full recovery — and even then not to previous levels — despite renewed forecasts the U.S. economy could start to grow again by the end of this year, followed by China.
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