North America Economy Faces Multiple Problems
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.