Marketing & Market Research
Country Economic Forecasts - United States
Country Economic Forecasts - United States
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Country Economic Forecasts - United States
The spread of the Omicron variant and year-end slump in consumer spending put a chill on the US economy in Q1, with our new baseline seeing GDP essentially flat on the quarter. But as the Omicron wave recedes, we foresee a spring rebound led by buoyant demand for in-person services. Given the weak start to the year, we now forecast that the economy will grow 3.5% in 2022, 0.5ppts below our previous baseline, and 2.5% in 2023.