The Bottom Line

The Bottom Line

February 01, 2023

The Economic Slowdown Is Broadening

Data released over the past few weeks have shown that economic growth slowed in the last two months of 2022.

Although parts of the economy started to moderate this past summer, it was in relatively small sectors (real estate, entertainment and technology), so the impact on overall growth was negligible. But now the slowdown is broadening to large parts of the economy, like consumer spending and manufacturing output, which adds to the conviction that the economy will enter into a recession this year.