Article source: ConstructConnect
Estimates of U.S. ‘real’ (i.e., after inflation) gross domestic product (GDP) growth for this year have generally been revised down recently, by well-known forecasting agencies, from a range between +6% and +7% to a ‘cooler’ +5%. Supply shortages have cut into output levels in many industrial sectors. And bad news about coronavirus variants is putting a damper on re-opening efforts.
The seven-day average coronavirus count in the U.S. is presently 120,000. Delta and Omicron have raised infections from reasonably low levels in the summer to a point where they are now half what they were at their peak in January, at the beginning of this year. That’s super discouraging. We’d all like to put this terrible period of anxiety behind us.
By the way, on a per capita basis, coronavirus cases are about three times greater in the U.S. than they are in Canada. (In the United Kingdom, the case count has now soared as high as it has ever been.)
