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Foodservice Update Q3 2022: Revisiting Growth Perspectives

The writing is on the wall: economic growth is in jeopardy due to macroeconomic challenges around the world. From severely high natural gas prices in Europe, which affect everything from fertilizer prices to milk powders, to a housing crisis, and continued partial lockdowns in China. Coupled with rising interest rates, softening equity markets, and negative real wage growth, consumer confidence surveys unsurprisingly outline a worsening outlook for demand. It is likely that the US and Europe will both be entering a recession over the next 12 months.

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In Europe and the...

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Sep 21 8:00 AM, General News



NRF Says Economy is Strong Enough to ‘Keep a Recession at Bay’ Despite Two Quarters of Decline

Despite two consecutive quarters of decline, the U.S. economy still does not appear to be in a recession and remains unlikely to enter one this year, National Retail Federation Chief Economist Jack Kleinhenz said today.

“Back-to-back contractions have heightened fear of a recession, but while the economy has lost momentum heading into the second half of the year, economic data is not yet consistent with a typical recession,” Kleinhenz said. “Our view is that while the economy is functioning at a..."

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Aug 3 8:41 AM, General News


The Current State of the Economy - Optimism or Recession?

For the past couple of months, the nation has been tuning in once a month at 8:30 am EST for the reading of the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) report. Each month, numbers have indicated levels of inflation not seen in decades. Headlines have grabbed the attention of everyone, causing concern and fear for potential recession. But how concerned should market participants be with the current state of the economy...

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Jul 21 8:22 AM, Urner Barry


NRF Says Economy is Slowing But Recession is Unlikely in Near Term

The U.S. economy’s rate of growth is slowing, but consumers remain financially healthy and the nation is unlikely to enter into a recession during the remainder of 2022, National Retail Federation Chief Economist Jack Kleinhenz said today.

“I am not betting on an official recession in the near term, but the most recent research pegs the risk over the next year as about one in three and it will be touch and go in 2023,” Kleinhenz said. “In the meantime, a contracting economy short of..."

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Jul 1 8:05 AM, General News


NRF Says Economy ‘Being Rebalanced’ but ‘Extreme Cooling Off’ Seems Unlikely

The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz said today.

“With changes underway that focus on taming inflation without splintering the economy, the nation’s economic system is in the process of being rebalanced in ways that are testing its resilience,” Kleinhenz said. “This is an extraordinary period with unprecedented factors that include inflation at a..."

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Jun 2 8:00 AM, General News


Boozman Urges Biden Administration to Prioritize U.S. Trade and Agriculture Agenda

U.S. Senator John Boozman (R-AR), ranking member of the Senate Committee on Agriculture, Nutrition, and Forestry; joined Senators John Thune (R-SD), a member of the Senate Finance Committee and the Senate Committee on Agriculture, Nutrition, and Forestry; and Mike Crapo (R-ID), ranking member of the Senate Finance Committee, in leading a group of Republican members of the Finance and Agriculture Committees on a letter to U.S. Trade Representative Katherine Tai and U.S. Department of Agriculture Secretary Tom Vilsack urging them to prioritize market access initiatives as...

 

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May 12 8:00 AM, General News


NRF Chief Economist Says Economy Has ‘Strong Momentum’ Despite Challenges From Inflation and Ukraine

Top challenges have shifted from COVID-19 to inflation and the war in Ukraine, but the U.S. economy will continue to face uncertainties in the year ahead, National Retail Federation Chief Economist Jack Kleinhenz said today.

“While the public health situation has greatly improved, the impact of the pandemic continues to spread,” Kleinhenz said. “That ripple has extended into 2022 and includes a disproportionate impact from inflation reaching a 40-year high brought about by strong consumer demand interacting with restricted supply...”

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Apr 4 9:00 AM, General News


NRF Chief Economist Says Growth Likely to Continue Even as Fed Works to Slow Inflation

Coming up on two years since the short-lived 2020 recession, the United States appears to be at the midpoint of an economic cycle that should continue to see growth even as the Federal Reserve raises interest rates to bring inflation under control, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The maturing economy remains in growth mode and there is good reason to expect it will soon approach normal trends,” Kleinhenz said. “Despite ongoing challenges, we are clearly still in an..."

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Feb 3 7:58 AM, General News







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