United States Offices

SUMMARY. The United States economy is facing several serious problems that don’t have simple solutions and are not likely to be solved for several years, reaching out to the presidential elections in 2024.

Take your pick of problems: Inflation. Stock Market. Climate Changes. Interest Rates. Housing Prices. Gasoline Prices. Food Prices. Social Unrest. Political Conflicts. Worker shortages. Supply Chain Shortages. Russia-Ukraine Conflict.

The bottom line here is that consumers, investors, businesses, and governments are uncertain about what the future holds for the next several years, and this uncertainty makes it difficult to build multiple-year action plans, whether it’s for purchases, manufacturing, marketing, or investing.

Uncertainty makes people nervous, and Uncertainty is the name of the game in the U.S. for the foreseeable future.

However, we’re still optimistic about the U.S. economy and we see 2022 production growing by 11.6% but that activity is likely to fall to 2.7% next year and drop again to 1.5% in 2024.

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SUMMARY.  2021 was a year of big hopes for economic recovery and pandemic management, and, overall, the economic rebound was strong.  Looking at the state of the economy in general, and the key economic indicators such as GDP, interest rates, employment levels, etc., the North America market finished the year on a very high note. At the same time, development of new pandemic variants as well as ongoing issues with supply chains have led to manufacturing issues.

The second half of 2021 brought steady economic activities and strong economic recovery.  Despite this strong performance, many existing and new challenges were seen.  Problems from pandemic-related supply chain disruptions, logistics backlogs, and semiconductor shortages to new virus variations and labor market issues have contributed to slower growth in Q4 2021 than during the first half of last year. 

Let’s break it down.  The “Great Resignation” means companies must make themselves more attractive to new hires, and it provides those workers who remain more leverage to change corporate cultures from the inside.

With help of government support and targeted fiscal policies, the US economy showed a strong comeback in 2021.  Furthermore, the growth trajectory is well positioned to continue to expand into the next few years, however, at much slower pace, than in 2021. 

At the same time, there are many reasons for us to be optimistic about this trend.  Our positive outlook is based on the reviews of key economic indicators, including GDP, unemployment, and inflation.  In our previous forecasts, we discussed recovery trends for the post-pandemic period, and called for a return of demand for most markets in 2021.   Last year, we witnessed a strong level of activities and an economic  rebound for

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