The U.S. economy is still growing, but omicron has acted as a big drag. The omicron variant has intensified labor and supply shortages.
The numbers: The U.S. economy dropped down to a slower gear in January amid a record outbreak of coronavirus cases that intensified labor and supply shortages, according to pair of IHS Markit surveys of senior business executives.
Any reading above 50 means businesses are growing and numbers above 55% are quite healthy. Yet conditions aren’t as good as they were last fall, no thanks to the latest strain of the coronavirus. Yet with cases peaking, most business leaders believe growth will re-accelerate in the near future. Their biggest problem is an ongoing lack of supplies and labor.
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