Economy could take moderate hit from COVID variant

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Omicron variant: Economy could take moderate hit from COVID variant

The omicron COVID-19 variant could have a moderate impact on the U.S. economy next year as it hurts consumer spending and worsens labor shortages and supply-chain bottlenecks, intensifying already-high inflation, top economists say.

It’s too early to pinpoint how omicron will affect economic growth as scientists are just starting to assess the toll it could take on global health. It could be a non-factor or, at worst, nudge the U.S. back into recession

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