The latest COVID-19 variant is upending holiday plans for tens of thousands of travelers — but it didn’t do much damage to holiday shopping.
Airlines canceled hundreds more flights Sunday, citing staffing problems tied to COVID-19, as the nation’s travel woes extended beyond Christmas, with no clear indication when normal schedules would resume.
But shoppers shrugged off the omicron variant, and holiday sales rose at the fastest pace in 17 years, according to one spending measure.
Omicron is likely to slow the economy’s unexpectedly strong rebound from last year’s coronavirus recession by disrupting travel and discouraging some consumers from venturing out. The variant could also add more heat to already simmering inflation by forcing shutdowns at factories and ports, delaying shipments and driving up prices.
“A full reopening of the U.S. economy will be delayed yet again,” said Robin Brooks, chief economist at the Institute of International Finance, a trade group of financial firms.