Economists downgrade forecasts for September
Wall Street Journal: This isn’t the September economists were predicting. Earlier this year, many of them saw this month as the moment when the economic recovery would kick into high gear. Vaccines would ease labor shortages. Schools and offices would reopen. Local businesses that rely on office workers would see a comeback, and travel would rebound. That hasn’t happened. Instead, company’s and consumers are adjusting their plans to accommodate new mask mandates, travel restrictions, event cancellations, and delayed office reopenings. Consumers are tightening the reins. Hiring has slowed, and those economists who were once optimistic? They are downgrading their forecasts.