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That’s what more than 70 of them told us in Liverpool last Thursday, as they assembled at the latest of ºÚ¶´ÉçÇø’s Phase One socials for newcomers across the industry. Two-thirds said they thought Britain was heading for recession, but that the economy would pick up again quite quickly.

A more pessimistic fifth said they were expecting a severe recession. But they are not cutting back on their spending – two-thirds said fears of recession had made no difference to them – and 70% aren’t worried about losing their jobs either.