Political Economics: Waiting for Santa to Rally
During the third quarter, the U.S. economy began badly and then got worse. Additionally, most forecasters see some degree of recession next year, but how much?
Column by Jim Flinchum, Inside Business, Hampton Roads, 10/17/2022
Is this a garden-variety recession?
Make no mistake — the economy is in recession. The traditional, nonofficial definition of a recession is two consecutive quarters of shrinking gross domestic product. The first quarter was revised downward to a negative 1.9%.
Column by Jim Flinchum, Inside Business, Hampton Roads, 07/18/2022
Political economics: mixed data for a new year
What a quarter! War broke out in Europe, and inflation broke out in America. COVID infections declined in America but increased in China. Despite nagging supply chain problems, the stock market hit an air pocket during the quarter but has almost recovered. Consumer confidence even rose slightly.
Column by Jim Flinchum, Inside Business, Hampton Roads, 04/11-17/2022
A look at inflation, the stock market and employment
The COVID-weary economy continues to bounce back. For example, the latest index of leading economic indicators rose another 1.1%, the highest since May. Unemployment is only 3.9%. Capacity utilization rose to 76.8%, the highest of the COVID-era. How can the economy be so good, as we fight the last variants and wait for the next?
Column by Jim Flinchum, Inside Business, Hampton Roads, 01/17-23/2022