The nation’s economists are slightly less optimistic about growth prospects over the next year, noting a number of threats ranging from inflation to lingering disruptions from COVID and snarled supply chains.
66% of economists surveyed by the National Association for Business Economics expect the economy to grow by 3% to 5.9% over the next year, while 28% are less optimistic. 47% report a shortage of skilled workers over the summer quarter.
Crude oil is trading around $84.34 a barrel, extending pre-weekend gains to hit multi-year highs as global supply remain tight amid solid fuel demand as economies pick up from pandemic-induced slumps.
Meanwhile, U.S. energy firms last week cut oil and natural gas rigs for the first time in seven weeks even as oil prices rose. But analysts warn there may be some corrections coming soon, as the sharp rise in crude prices has led to a growing sense of caution.