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Although COVID-19 caused a shutdown of many aspects of the economy, the economic downturn that many had initially projected has not yet materialized in the ways that were anticipated. That's due to, among other things, funding and other relief from the U.S. government. Bankruptcy filings are down 29.1% for the 12-month period ending on Sept. 30, 2021, according to the Administrative Office of the U.S. Courts. However, inflation is on the rise, leading to increased pricing, and the country is going into mid-term elections in 2022, all of which can negatively impact economic outlooks for 2022.
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