Inflation, Supply Crunch, Omicron Push US Growth Forecasts Down

Shelves displaying meat are partially empty as shoppers make their way through a supermarket in Miami on Jan. 11, 2022. Joe Raedle/Getty Images

The U.S. economic forecast for the first quarter of 2022 looks dim, as high inflation, supply chain and labor disruptions, and Omicron slow down growth, according to results from a survey conducted by The Wall Street Journal of 69 business, academic, and financial forecasters.

Annual growth rate predictions for the first quarter have slid to 3 percent from 4.2 percent from earlier forecasts in October, according to experts interviewed by WSJ.