Coming Soon: The Future of Our Economy

November 14, 2022

We are now halfway through the Fourth Quarter of the year and many of us are focused on how economic activity closes out 2022. Last week, Ted Abernathy, managing director of North Carolina-based Economic Leadership, provided key economic insights to the National Association of State Chambers of Commerce. A few things are obvious and certain:

1) Worker shortages in this country will persist until we take the steps necessary to manage this burden.

2) Borrowing costs are up and are likely to go up further before settling at a predictable level.

3) Outside influences in our connected world have real impacts on the business community here in Delaware and across the country.

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The next few weeks are particularly critical for members of our Delaware Retail Council. Many retailers are cautiously optimistic about the holiday season and keeping a watchful eye on the travel sector that continues to see growth. In all, we will have challenges and opportunities, and Ted’s presentation identifies many of both.

News You Can Use

In the realm of economic news, we start off the week with remarks by Fed Vice Chair Lael Brainard, and New York Fed President John Williams tonight. Philadelphia Fed President Patrick Harker joins others with his view of economic conditions on Tuesday morning, while Wednesday brings us October retail sales figures and the import price index. On Thursday, we’ll get an early look at November jobless claims, and October building permits and housing starts. The Philadelphia Fed Manufacturing Index is part of Thursday’s news. We wrap up on Friday with existing home sales from October and leading economic indicators from October.

Earnings calls for the week start today with Tyson Foods, Valvoline, and others. Home Depot and Walmart headline tomorrow’s calls, and are joined by Aramark, Advance Auto Parts, and Krispy Kreme. Cisco Systems, Lowe’s, Nvidia, and Sonos are scheduled for Wednesday, while Dole, Macy’s, and Foot Locker, among others, round out the week.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

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