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GDP Wilts as Consumers Find Fewer Goods to Purchase

10/28/2021

Knotted supply chains and an escalation in Covid-19 cases during the summer months slowed economic growth in the third quarter to the weakest GDP reading in five quarters. The +2.0% quarterly annualized reading fell short of the +2.6% Bloomberg median forecast and was well below the +6.7% growth pace in the second quarter.

 

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