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ARTICLE · 30 DECEMBER 2021

What We're Reading This Week [December 23, 2021]

Mayer Brown
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On Tuesday, December 21, Bloomberg Economics reported that the latest strain of COVID-19, Omicron, is set to halve fourth quarter global economic growth.

United StatesEmployment and HR
Danielle A. Corn
Danielle A. Corn
Aaron Gavant
Aaron Gavant
Sean Scott
Sean Scott
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On Tuesday, December 21, Bloomberg Economics reported that the latest strain of COVID-19, Omicron, is set to halve fourth quarter global economic growth. According to Bloomberg, the global economy is expanding at just 0.7% in the final three months, which is half the pace of the third quarter. The European economy is on pace for a 0.8% expansion this quarter while the United States is on track to register a 1.2% growth. Experts are warning that as the year closes, this variant-which is said to be far more transmissible than its predecessors-has the potential to throw off gains enjoyed by the global economy earlier in the year due to the efficacy of vaccines and available treatments in particular as it is coupled with accelerating inflation worldwide. [Bloomberg; Dec. 21, 2021]

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