America’s economic recovery hits a major roadblock

America’s economic recovery hits a major roadblock
Justin Sullivan/Getty Images

This summer, the American economic recovery hit a roadblock.

The US economy grew at an annualized rate of only 2% in the third quarter, the Bureau of Economic Analysis reported Thursday. The highly infectious Delta variant of the coronavirus, supply chain chaos, worker shortages and higher prices weighed on economic activity.

It was far lower than the 2.7% economists had predicted and the slowest pace of growth since the start of the recovery, as well as a massive step down from the 6.7% rate in the spring.

This is a developing story. It will be updated

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

-advertisement-

Concert Calendar

Featured Events