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Monday, August 15, 2022

Omicron Slows Europe’s Economy but Supply-Chain Strains Ease

Rising infection rates driven by the faster-spreading Omicron variant of Covid-19 led to a U.S. and global economic slowdown as the year got under way, surveys of purchasing managers said.

The pullback was particularly pronounced in the U.S., where both the services and manufacturing sectors reported slower growth, according to surveys by data firm IHS Markit conducted in the first weeks of January and released on Monday.

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