Demographic headwinds
In what should be a surprise to nobody, US fertility has fallen to a century low. The US has better population growth forecast than many countries, but is still facing long term headwinds. South Korea still is the most glaring example, but China will continue to see truly shocking population ageing and decline. https://edition.cnn.com/2024/04/24/health/us-birth-rate-decline-2023-cdc/index.html Declining…