Market Whiplash
As in most years, there was no shortage of reasons to be pessimistic in 2021. Despite these headwinds, the US economy is surprisingly doing quite well. Businesses are hiring at a rapid pace and job openings exceed the number of unemployed individuals. Unemployment numbers finished the year at 3.9% (closing in on historical lows) and wages are trending higher. Quarter over quarter US real GDP closed the year on a positive note above average expectations and the global services and manufacturing indexes are all showing signs of positivity and continued healing and growth. While we are still battling another delta/omicron surge, it is having a smaller impact on economic growth and will likely subside as well – until the next variant is discovered.
“Keep your face always toward the sunshine, and shadows will fall behind you.”
– Walt Whitman –
We hope you enjoy this installment of Timonier’s “From the Engine Room”.
Click HERE for the latest From the Engine Room Quarterly Newsletter.
