The U.S. economic forecast for the first quarter of 2022 looks dim, as high inflation, supply chain and labor disruptions, and Omicron slow down growth, according to the results from a survey conducted by the Wall Street Journal, of 69 business, academic, and financial forecasters. Annual growth rate predictions for the first quarter have slid to 3 percent from 4.2 percent from earlier forecasts in October, according to experts interviewed by the WSJ. The markets bounced back toward the end of last week, after having hit three-month lows. Economists worry that the spread of the Omicron variant will damper consumer spending and exacerbate labor and supply chain shortages as workers call out sick. Earnings reports are expected to be the main market movers in the United States this week, given that Federal Reserve policymakers will not be making any public comments ahead of next week’s interest-rate decision. The current labor shortage is expected to lead …
Inflation, Supply Crunch, and Omicron Push US Growth Forecasts Down
January 17, 2022
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Business & EconomyBusinesses in COVID-19economyinflationOmicron variantU.S. economic growthUncategorizedUSus inflation issue
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