The unusual state of the economic recovery in the United States, further supply chain woes, and a plan to convert a former school into a Blue Tech HQ are among the top business news items this morning.
The New York Times reports on the unusual state of the U.S. economy, which is experiencing rapid growth but also a plethora of unusual trends and challenges. These include higher costs driven by inflation, delays in return-to-office plans leading to diminished activity in urban downtowns, and the fading impact of economic stimulus passed earlier this year, all of which could contribute to a slowdown in economic growth this fall.
While economists have forecasted that Hurricane Ida will not deal a major blow to the U.S. economy, businesses are concerned that the impact of the storm will worsen persistent supply chain problems. One contributing factor is the diversion of trucks to assist relief efforts, leaving them unavailable for deliveries.
The maritime technology company ThayerMahan is renewing its efforts to acquire a former school in Groton after a delay caused by the COVID-19 pandemic. The company is looking to convert the former Groton Heights School into its headquarters.