The Commerce Department said Thursday the U.S. slowed sharply to a 2% annual growth rate in the July-September period, marking the weakest quarterly expansion since the recovery from the pandemic recession began last year.
The slowdown is attributed to the spike in COVID-19 cases that began near the start of the quarter and ongoing supply chain problems that appear to have worsened recently.
The department estimated that the country’s gross domestic product – its total output of goods and services – declined from 6.7% in the second quarter and 6.3% in the first quarter, according to the Associated Press .The 2% […]
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