Prepare for pre-recession spend – top economist

By Nicholas Robinson

- Last updated on GMT

Food manufacturers should prepare for a positive three years ahead, as the changing economy prompts consumers to spend at pre-recession levels, a leading economist has said. 

Two years of deflation, a rise in wages, a dip in oil prices and reduced utility bills would boost consumers’ disposable income, said Roger Martin-Fagg, an economist at Ashridge Business School.

A rise in disposable income would lead consumers to shop for more premium food and drink products, which hadn’t been the case in post-recession Britain, he added.

‘A lot more volatility’

“But, what we do need to bear in mind is that there’s going to be a lot more volatility in the exchange rates, particularly against the Asian, European and US currencies,” ​he told FoodManufacture.co.uk at the British Frozen Food Federation conference last week (March 3).

Other issues, such as trouble in Russia and a slow-down in China’s economy, had the potential to badly affect the global economy and the UK as a result, Martin-Fagg added.

Listen to the rest of this podcast to hear how Martin-Fagg believes food manufacturers should take advantage of the good economy. 

Related topics: Business

Related news

Follow us

Featured Events

View more

Products

View more

Webinars