IHS Markit is looking for U.S. gross domestic product growth to downshift from 5.7 percent growth last year to 4.3 percent in 2022. That’s still way above the pre-pandemic trend and a welcome return to growth after 2020’s 3.4 percent drop, but slower growth is still slower growth in a mixed-up world. disruptions, supply stickiness and energy price increases will continue to exert upward pressures on prices in the first half of 2022,” IHS said in its forecast.
Inflation, which hit a 39-year high in November, will be front and center for the economic crowd this year, even if over the longer run prices are relatively in check for apparel. That’s because shoppers have to put gas in the car and food on the table and then only afterward look to refresh their closets.
Source: Financial Digest (financialdigest.net)
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