VTWO - Economic Growth Rates Risk Slipping Into Recession

• In addition to the Atlanta Fed’s shocking GDP estimate of only 0.1% GDP growth this quarter, many U.S. statistics are turning down, in part due to rising inflation and some recent lockdowns due to COVID.
• Workers are still quitting in droves. The Labor Department reported that 4.3 million workers, representing 2.9% of the workforce, quit their jobs in December. Total quits in the quarter stood at 13 million.
• Eurostat announced consumer inflation rose to a record 5.1% annual pace in Europe in January. Energy prices have risen 28.6% in the past year, while food prices rose 5.2%. Excluding food and energy, the core rate of inflation is at 2.3% (per year), down from a 2.6% annual pace in December.

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