President Biden Delivers Remarks On Status Of Afghanistan Evacuation Bank of America economists on Friday cut their forecast for third quarter growth in the U.S. to 4.5 percent, a big drop from the 7 percent previously expected.
This downward revision follows the Census Bureau’s weaker than expected report on July retail sales, a move which had been anticipated by the bank’s credit and debit card data showing weakening consumer spending.
Economists Michelle Meyer and Alexander Lin wrote in a note to the bank’s clients that consumers had likely cut back on spending because of fear of the Delta variant, supply-side constraints […]
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