Five Worrying Trends

Debt, Domestic Autos, Exports, Rail Freight, Hospitality Employment

Just yesterday, I was writing somewhat optimistically about the economy. While I do believe things are in a better place than I would have imagined a year ago, it’s still important to consider counterpoints to any narrative. So, here are five things that don’t look good for particular components of the economy.

Often cited as one of the biggest concerns out there, U.S. government debt:

Debt isn’t such a bad thing when you have growth. But some sectors of the economy are in long-term decline. Take domestically-produced (i.e., made in U.S., Canada, and Mexico) automobile sales for example:

Sure, maybe we can do without the auto industry but what about broader exports of our goods and services? Those seemed to have started decelerating even before the pandemic and are very far from returning:

Even just moving goods around the country isn’t what it used to be:

Meanwhile, we have some sectors of the economy that are still reeling (to the tune of millions of jobs) from the COVID shock, like leisure and hospitality:

So, while the overall picture may look decent, there are still pockets of concern to pay attention to!

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