U.S. Economic Growth Slows

There has been a slowdown in U.S. economic growth during the third quarter of the year, following the fast-spreading Delta variant of coronavirus which has limited consumer spending.

The economy expanded at an annualized rate of just two percent in the three months to September that down from a high of 6.7 percent in the previous quarter.

The situation is compounded by U.S. supply chain issues, rising inflation, and new COVID-19 restrictions in some places.

However, analysts foresee a turnaround and uptick in growth as the pandemic shows signs of decrease and supply chain kinks ironed out.

Readers Bureau, Contributor

Edited by Jesus Chan

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