As we enter the last quarter of the year, a question mark looms over whether consumer buying power will provide the expected boost during this traditional peak sales season.
Despite some optimistic estimates on the market downturn trending upward for the second half of the year, the worldwide economy remains sluggish due to inflation and interest-rate hikes.
As the world steps out of a pandemic and into a post-pandemic phase, the rebounding of economies is returning, but slower than perhaps expected. Issues like war and inflation have complicated recovery and affect consumer demand in various segments.
The global economy began to slow down in the second half of 2022. With issues such as war, inflation, and Covid, the economy expects to be just as rough at the start of 2023. Decreased consumer demand severely impacts almost every IT product segment.
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