Delta worries, labor shortages and fading Washington stimulus are casting a chill on the economy. Several Wall Street forecasters have chopped their targets for U.S. growth after a poor jobs report for August.
Goldman Sachs, Morgan Stanley, BMO Capital Markets, TD Securities and other firms cut their forecasts — some by more than half. An economy that was expected to grow at a sizzling 7% annual pace from July through September is now seen expanding at a more modest 3% to 3.5% clip.
The timeline for solving the severe congestion that has locked down supply chains is getting longer.
U.S. port executives say they expect the logjams stretching from China’s to Midwestern container terminals to extend beyond the Lunar New Year in February, as the crush of freight volumes pushes beyond the traditional lulls in shipping demand.
