The COVID-19 pandemic sent the world into an economic tailspin. Mass furloughs and layoffs resulted in increased consumer anxiety and decreased consumer spending—retail sales sank 22% only to rebound to 16% higher than pre-pandemic levels in just a few months. Supply chain disruptions and misalignments led to increased costs across industries. Gas prices fell 50% in early 2020 only to surge 160% in early 2021. Fueled by a buying frenzy, housing costs rose around 18% but are starting to reverse as interest rates climb, increasing monthly mortgage costs by over 40%. And then there’s inflation… It’s been an economic rollercoaster.
Doing some things and making some impacts