The Harlow Report-GIS
2023 Edition
ISSN 0742-468X
Since 1978
On-line Since 2000
first published week of: 01/16/2023
Looking ahead for utilities with optimism after a challenging year
by James Amato, Burns & McDonnell
To describe 2022 as a volatile economic year is an understatement.
Raw materials shortages, multiple interest rate hikes by the Federal Reserve, trillions of dollars of federal deficit spending, labor shortages and inflation levels not seen in decades have contributed to massive levels of supply chain disruption, industrial production constraints, and increased construction and operating costs.
In addition, we witnessed consumer confidence at its lowest point since the start of the COVID-19 pandemic. The year began with two consecutive quarters of slightly declining GDP, which by traditional metrics is the definition of a recession. To round it out, war in Eastern Europe has created an energy and economic catastrophe affecting all of Europe and global supply chains. The geopolitical future for the region and the countries they engage in trade with is filled with uncertainty.Read full story at Power Engineering…