Unilever warns global recession has begun, causing spending shift

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Company remains cautious about bringing back staff, but announces good sales figures

A deep global recession has already begun and is causing dramatic shifts in consumer behaviour, according to one of the world’s biggest manufacturers of grocery brands.

Unilever’s chief executive, Alan Jope said: “We believe that talk about a quick recovery is too optimistic. A deep global recession has already started and we are seeing consumer habits changing dramatically. Unemployment is rising across many markets and even for those with jobs, people are saving a bit harder.”

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