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As US economy slows, CT casts a wary eye for downturn

Mount Equity Group Tokyo Japan > News > Markets > As US economy slows, CT casts a wary eye for downturn

Most any visitor to the Danbury Fair mall last weekend would declare the economy full bore, with the garage and primary parking lot near capacity and the food court bustling, perhaps boosted by shoppers hitting the stores to spend their tax refunds.

But after the federal government reported the U.S. economy shrank in the first three months of this year, a rare decline, could the Connecticut economy follow?

It will be a few months more before state estimates are in. For now, jobs remain plentiful for those looking for work, even as high prices continue to chip away at the savings people can sock away.

U.S. output took a step back in the first three months of this year, as gross domestic product, the total value of goods and services produced, dropped at a 1.4 percent annual rate, according to estimates by the Bureau of Economic Analysis. The U.S. economy had closed out 2021 with a 6.9 percent surge, with…

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