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COVID Economy Outlook

As we approach year number three of the pandemic economists worry we’ll be off to a weak start to 2022.

Here’s more on what the experts are saying about it.

Thousands of flights canceled.

Back to the office plans shelved.

College football bowl games called off.

Broadway shows shutting down.

Restaurants slowing down.

Another covid fueled economic crunch with rising cases raising safety concerns and hitting the workforce.

All while the supply and demand balance remains out of whack

Gasbuddy.com predicts the national average for gas prices could flirt with the 4 dollar mark by Memorial Day

And agricultural analysts don’t think we’re going to get much of a break at the supermarket either between pent up demand high shipping costs– and bad weather food prices aren’t
expected to go down any time soon.

Of course these are all just predictions but economists who have downgraded their forecasts for early 2022 say they’re keeping a close eye on covid-19 and Capitol Hill.

“A big part of the Build Back Better agenda is the child tax credit and that expires at the end of this year so folks families with children that are getting that tax credit won’t get
that money early next year and that’ll hurt and, of course, combined with Omicron means that the growth going into next year will be weaker than previously anticipated.”

I’m Britt Conway reporting.

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