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In the first quarter of this year, the U.S. economy was hit by high inflation, supply-chain disruptions and the COVID-19 omicron variant. Despite those headwinds, consumer spending increased for many goods and services.
Consumers’ resilience was highlighted in the quarterly financial results released in the past few weeks by some of Connecticut’s largest companies. Encouraged by those numbers, executives at those firms expect to see rising demand during the remainder of the year.