Whack, whack whack: it's my winter almanac
Goodbye 2022 … uh oh, here comes 2023
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
BLOOMBERG reports:
Goldman Sachs Group Inc. economists cut their forecasts for the U.S. economy this year and next after deciding the spread of the omicron strain of the coronavirus would exert a “modest downside” drag on growth.
In a weekend report to clients, economist Joseph Briggs said Goldman Sachs now expects U.S. gross domestic product to expand 3.8% this year, down from 4.2%. It reduced its 2022 estimate to 2.9% from 3.3%.
“While many questions remain unanswered, we now think a modest downside scenario where the virus spreads more quickly but immunity against severe disease is only slightly weakened is most likely,” said Briggs.
The economist said omicron was likely to have only a modest effect on services spending and could exacerbate supply shortages. It could also delay when some people feel comfortable about returning to work, he said.
Briggs saw a mixed effect on inflation. While virus-sensitive sectors such as travel may be hit, further shortages of supplies and labor could push up prices in a more lasting way, he said.
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