Less gloomy? ☁️Jan 24, 2023
💸 Fears of a recession are still high and still warranted in 2023, true that. Nevertheless, the US economy will progressively slow through the first half of the year: behind this economic showdown are interest rate increases intended to combat swiftly rising prices, but with the unemployment rate at a 53-year low and inflation trending lower, forecasts are turning a little less gloomy.
• Consumers and businesses alike are still spending, but they’re doing so by increasing their dependence on credit and more cautiously, finally pushing back on price increases on goods.
• Concerning animal proteins, production surged in Q4 2022. Although cold storage inventories edged higher through the second half of the year, they remain below the five-year average due to the ongoing strength of demand.
🔍 For more key information, read this.