U.S. Economy Slows to ‘Near Standstill’ as Omicron, Supply Chain Delays, and Inflation Surge

[mystery-ak]

U.S. Economy Slows to ‘Near Standstill’ as Omicron, Supply Chain Delays, and Inflation Surge

John Carney 24 Jan 2022

Economic growth in the United States slowed sharply in the first weeks of the year due to supply chain disruptions, high prices, and labor shortages linked to the surge in Covid-19 infections, according to data from a purchasing managers survey released Monday.

The U.S. IHS Markit flash composite purchasing managers index, one of the first comprehensive looks at economic growth this year, fell to 50.8 in January from 57.0 in December, severely undershooting expectations and signaling almost no growth in the economy. Economists had forecast a reading of 56.7.

“Soaring virus cases have brought the U.S. economy to a near standstill at the start of the year, with businesses disrupted by worsening supply-chain delays and staff shortages, with new restrictions to control the spread of Omicron adding to firms’ headwinds,” said Chris Williamson, chief business economist at IHS Markit.

The flash composite measures economic activity in both the services and manufacturing sides of the economy. Readings above 50 indicate growth.

more
https://www.breitbart.com/economy/2022/01/24/u-s-economy-slows-to-near-standstill-as-omicron-supply-chain-delays-and-inflation-surge/

[Kamaji]

The virus itself doesn't have anything to do with it.  It's the government's overblown response to a bad cold that is causing the delays and inflation.

[GtHawk]

Damn that Trump!

[catfish1957]

Biden's Blowing away our energy independence created one big domino effect.  This shit was self inflicted.

[Fishrrman]

I ordered a new MacBook Pro from Adorama in NYC at the end of November (Black Friday sale, $200 off list). They were listed as out of stock, but I thought I could stand a short wait. So I put in my order.

Almost two months later, no stock. The site says "January 28th", but I think that's gonna be pushed back. Almost nobody seems to have any stock (and this is "the base model", nothing special). Even some Apple Stores seem to be out or are having delays getting them.

MacBook Pro, the new "unobtanium" model...

[libertybele]

Biden's Blowing away our energy independence created one big domino effect.  This shit was self inflicted.