U.S. Economy Slows to ‘Near Standstill’ as Omicron, Supply Chain Delays, and Inflation Surge

breitbart ^ | 1/24/22

[Pollard]

Economic growth in the United States slowed sharply in the first weeks of the year due to supply chain disruptions, high prices, and labor shortages linked to the surge in Covid-19 infections, according to data from a purchasing managers survey released Monday.

The U.S. IHS Markit flash composite purchasing managers index, one of the first comprehensive looks at economic growth this year, fell to 50.8 in January from 57.0 in December, severely undershooting expectations and signaling almost no growth in the economy. Economists had forecast a reading of 56.7.

“Soaring virus cases have brought the U.S. economy to a near standstill at the start of the year, with businesses disrupted by worsening supply-chain delays and staff shortages, with new restrictions to control the spread of Omicron adding to firms’ headwinds,” said Chris Williamson, chief business economist at IHS Markit.

The flash composite measures economic activity in both the services and manufacturing sides of the economy. Readings above 50 indicate growth.

[Pollard]

Related Markit pdf report, https://cdn.ihsmarkit.com/www/prot/pdf/0122/The-Great-Supply-Chain-Disruption.pdf

See section on agriculture on Page 11

IHS Markit on wikipedo, https://en.wikipedia.org/wiki/IHS_Markit

[Jane Long]

All Part of Their Plan™

[kvanbrunt2]

You would think God is working to destroy america, but no it’s just Biden and obama fing up big time.

[TigersEye]

“0micron” is just an excuse.

[Pollard]

Food Ping

[ealgeone]

Market down 7.2% so far this year.

[BenLurkin]

Government versus us.

Again.

[joshua c]

YEP BY DESIGN

joe is the fall guy

[frogjerk]

It is "Unexpected" socialist policies and fascist mandates causes economic turmoil to these "experts".

Truly a case of educated beyond their intelligence.

[EvilCapitalist]

And then there’s people like me who are p!ssed off about the stolen election, and as a result I refuse to buy any luxuries. Only necessities for the next 3 years. I won’t help the biden economy.

[Jane Long]

Was just thinking, earlier....of all of the stooges they could’ve propped up...why diaper ByeDan?

I guess they needed someone completely clueless to what Their Plan™ is, while they roll it out. :-(

[Diana in Wisconsin]

Market tanking, too!

I hope this HURTS and HURTS REALLY BAD going into November this coming mid-term year.

Me and mine can weather this; I want the IDIOTS that VOTED for this guy to HURT. If I could stick a shiv into the mix, I would!

Gold is ending at $1839.+ after hitting $1842 today - and that’s been a ‘BAD’ day for precious metals so far. ;)

[Jane Long]

Trying to think of any additional items to top off the supplies with....while we still can.

[Jane Long]

Yep....hope libs are screaming over their 401s, today.

They seem to be making pitiful excuses for everything else, so far.

[glorgau]

That’s what happens to an economy whose leadership applies second world solutions.

Venezuela here we come.

[Diana in Wisconsin]

“Only necessities for the next 3 years. I won’t help the biden economy.”

AMEN to THAT! We should ALL do that. And whatever you can grow yourself, raise & butcher/hunt/fish yourself and barter for yourself should also be the rule.

[Pollard]

After moving to Missouri, I noticed that every time a dem if president, everything seems to slow down. They protest by opting out. Kinda cool.

[Nateman]

Labor participation is at the lowest level since Carter. Hard to have a roaring economy when you are taking money from those who are producing and giving it to those who are not.

[central_va]

Producers aren’t paying up for labor so the are choosing empty shelves over price increases.