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The US economy is on track for a strong finish to 2021 and a solid start to 2022 as consumers and businesses keep spending despite high inflation, staffing challenges, persistent Covid-19 infections and lingering supply constraints.
According to Bloomberg’s latest monthly survey of economists, the economy will expand an annualized 6% in the fourth quarter before down-shifting to a still-solid 3.7% average pace in the first half of 2022. During the last expansion quarterly growth averaged around 2.3%.
Most-recent data showed further strength in manufacturing output, a rebound in home construction, robust household spending and improving labor market conditions. Against this backdrop of steady demand and investment, inflationary pressures are set to persist through much of next year.
Forecasts for the personal consumption expenditures price gauge, which the Federal Reserve uses for its inflation target, were boosted for each quarter through the end of next year. Fed officials signaled at this week’s meeting that they’re ready to raise interest rates at a faster pace in 2022, intensifying their battle against rapid price increases.
https://www.livemint.com/economy/us...022-as-spending-holds/amp-11639740571800.html
According to Bloomberg’s latest monthly survey of economists, the economy will expand an annualized 6% in the fourth quarter before down-shifting to a still-solid 3.7% average pace in the first half of 2022. During the last expansion quarterly growth averaged around 2.3%.
Most-recent data showed further strength in manufacturing output, a rebound in home construction, robust household spending and improving labor market conditions. Against this backdrop of steady demand and investment, inflationary pressures are set to persist through much of next year.
Forecasts for the personal consumption expenditures price gauge, which the Federal Reserve uses for its inflation target, were boosted for each quarter through the end of next year. Fed officials signaled at this week’s meeting that they’re ready to raise interest rates at a faster pace in 2022, intensifying their battle against rapid price increases.
https://www.livemint.com/economy/us...022-as-spending-holds/amp-11639740571800.html
