Posted on 12/22/2021 8:53:53 PM PST by nickcarraway
The Omicron variant’s economic impact will depend heavily upon how consumers feel about it. From homebuying to shopping to hiring, everything hinges on whether U.S. households fear the virus enough to halt the activities that have permitted the economy to reopen, or if they are learning to live with the ongoing pandemic.
Households curbing vacation plans and shifting back to online buying would send ripple effects throughout the U.S. economy, slowing both economic growth and job gains of in-person service sectors. Moreover, inflationary pressures could worsen if these factors led U.S. households to demand more goods, but foreign manufacturers were unable to produce and ship them fast enough.
However, if U.S. consumers decide that they want to power through, then Omicron may be less damaging than the 2020 COVID-19 waves and the Delta variant. Indeed, if Omicron prompts more people to get vaccinated and confidence increases, the variant may be the spark that ignites a second wind for the U.S. expansion.
The Conference Board’s Consumer Confidence Index suggests that consumers may wish to power through the Omicron wave. Consumer confidence in December rose to its best reading since July, just before the Delta variant pummeled the nation in August and September. This month’s uptick came after an upwardly revised reading in November. Notably, the December survey was taken as the Omicron variant began to overtake Delta in terms of new cases.
(Excerpt) Read more at barrons.com ...
Democrats saddened
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I never cowered to COVID and especially not to “O my CON”.
Omicron is God’s gift for ending the madness.
I’m in Florida and mentioning another variant of Covid will just get you a roll of the eyes and a groan. People down here are done with this crap, nobody is altering plans over it. Damage to the economy won’t come from the people but rather from restrictions forced upon us by the feds.
Never gave a red rat’s ass about any of this gaslight fest.
When only “essential” stuff was open like supermarkets, Lowes and Walgreens, I spent hours walking around in them, just for spite.
NEVER went into cowering “bunker mode”, because, F “covid”.
I knew it was a Dem scamdemic.
“Will”.
But that’s just me.
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