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Quarterly Economic Update
First Quarter 2022 Economic Update By Corporate Strategies and Solutions August 3, 2022
 

As soon as the U.S. seemingly emerged from the major slowdown caused by the pandemic, it appears another recession is looming.

A new wave of COVID cases hit energy prices are sky-high due to sanctions on Russia and strong global demand for oil and gas and inflation remains elevated despite the Federal Open Market Committee’s (FOMC) best efforts. Overall, the U.S. economy contracted 1.6% in the first quarter of 2022.

Of the Tenth District* (District) states, Colorado proved most resilient. At -1.9% growth, Colorado still ranked in the bottom half of states nationwide but weathered the storm given strength in sectors like real estate and rental and leasing as well as technology.

 

For more in-depth commentary about this report and reactions from the July 2022 FOMC meeting go to the Bank Statements podcast >>>

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Corporate Strategies and Solutions Our Corporate Strategies and Solutions department monitors today’s economic environment and analyzes our members’ financial trends and business activity. The department serves our members by identifying funding and liquidity strategies or solutions that fit their needs and help them enhance their financial performance.
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