U.S. growth outlook in first quarter down to 3 pct amid inflation, Omicron concerns: WSJ

2022-01-18 22:09:27Xinhua Editor : Liu Yimeng ECNS App Download
Special: Battle Against Novel Coronavirus

The outlook for U.S. economic growth in the first quarter of 2022 has been lowered to an annual rate of 3 percent amid concerns over inflation, Omicron and supply-chain constraints in the country, The Wall Street Journal has reported.

"Forecasters surveyed by The Wall Street Journal this month slashed their expectation for growth in the first quarter by more than a percentage point ... from their forecast of 4.2 percent in the October survey," said the report published on Sunday.

The country's growth outlook for the entire year of 2022 has also been adjusted to 3.3 percent from 3.6 percent in the October survey, the report said.

"The economy faces a delicate balancing act this winter, economists say, as the rapid spread of the Omicron variant threatens to dent consumer spending and exacerbate labor and supply-chain shortages as workers call out sick," it added.

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