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'Economy looks like it is running on empty' as business survey hints at looming recession

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Business confidence is slumping, according to an important industry survey, as inflation surges and companies worry that customers are cutting back on spending

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Companies who responded to the survey expressed levels of concern that suggest a recession is approaching with business expectations falling to their weakest point since May 2020 as new orders fall sharply.

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There's a difference between cutting back on spending and having no money to spend

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