Despite a sharp decline in the US business group’s Leading Economic Index, which some economists argue indicates an impending recession, not all companies are feeling the pressure. For example, Groundworks, a residential foundation and water management company, is still seeing strong sales, a need to fill several hundred open jobs, and a willingness of consumers to spend.
While many are confused by mixed signals in the economy, three years after the onset of a pandemic and a year and a half into a still-developing inflation surge, some businesses continue to thrive. Despite central banks raising interest rates at a faster pace than expected, demand for goods and services remains strong, and the US unemployment rate is the lowest it has been since 1969. While some Fed officials are concerned about labor hoarding, they remain less worried about a potential recession than the modest rise in unemployment they believe is necessary to reduce inflation.
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