The Holidays and getting Ready for the New Year
By: Ethan Price
28 November, 2021
It appears that the US economy will end the year on a high note with many Americans spending money on holiday gifts for loved ones. Many Americans are also getting out of their houses and participating in festivities that most did not experience last year during the pandemic. Although the economy looks good now, the change from December to January is always a rough one as consumers will stop spending and travel thins out.
Covid-19 cases are rapidly increasing nationwide with the discovery of the a new strain. In fact, an analyst at JPMorgan has found that spending has softened in states where the virus is running the most rampant. Moreover, it appears that consumers will have more ample savings after holiday spending is over compared to before the pandemic.
The supply chain may face less strain in the months going forward. "A lot of people coming off holiday jobs will be looking for work again and available to hire" (WSJ). Additionally, holiday goods will no longer be clogging the supply chain, allowing for new products and materials to make their way through.
Look forward to an economically bountiful December and then a more lack luster January, as spending and travel calm.