Economists are now cutting growth forecasts around the globe amid fresh concerns about inflation affecting consumers and the broader GDP. Analysts at Goldman Sachs now see a 35% risk of recession in 2022, up from just 10% a year ago. And U.S. Labor Secretary Marty Walsh recently said that a recession is now “a real likelihood” as gas prices surge.
Households are reflecting the same sentiment. The University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.
Currently, Ukraine accounts for 12% and 13% of global wheat and corn exports, which are heavily used commodities in nearly all food products. The cutoff in these commodities could create shortages, increase input costs, and raise prices for consumers, further dampening outlooks.
Economists are now cutting growth forecasts around the globe amid fresh concerns about inflation affecting consumers and the broader GDP. Analysts at Goldman Sachs now see a 35% risk of recession in 2022, up from just 10% a year ago. And U.S. Labor Secretary Marty Walsh recently said that a recession is now “a real likelihood” as gas prices surge.
Households are reflecting the same sentiment. The University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.
Currently, Ukraine accounts for 12% and 13% of global wheat and corn exports, which are heavily used commodities in nearly all food products. The cutoff in these commodities could create shortages, increase input costs, and raise prices for consumers, further dampening outlooks. he University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.
Economists are now cutting growth forecasts around the globe amid fresh concerns about inflation affecting consumers and the broader GDP. Analysts at Goldman Sachs now see a 35% risk of recession in 2022, up from just 10% a year ago. And U.S. Labor Secretary Marty Walsh recently said that a recession is now “a real likelihood” as gas prices surge.
Households are reflecting the same sentiment. The University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.
Currently, Ukraine accounts for 12% and 13% of global wheat and corn exports, which are heavily used commodities in nearly all food products. The cutoff in these commodities could create shortages, increase input costs, and raise prices for consumers, further dampening outlooks.
Economists are now cutting growth forecasts around the globe amid fresh concerns about inflation affecting consumers and the broader GDP. Analysts at Goldman Sachs now see a 35% risk of recession in 2022, up from just 10% a year ago. And U.S. Labor Secretary Marty Walsh recently said that a recession is now “a real likelihood” as gas prices surge.
Households are reflecting the same sentiment. The University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.
Currently, Ukraine accounts for 12% and 13% of global wheat and corn exports, which are heavily used commodities in nearly all food products. The cutoff in these commodities could create shortages, increase input costs, and raise prices for consumers, further dampening outlooks. he University of Michigan consumer sentiment for the U.S. fell to 59.7 in March of 2022 from 62.8 in February—the lowest reading since November 2011. That outlook suggests that consumer spending, which is already fighting an uphill battle as costs rise at the store, will trend downward in the coming months. Especially since the U.S. inflation rate reached 7.9% in February, its highest increase since 1982.