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Economic growth rate slows to 2% as supply chain issues take toll


According to the Commerce Department, growth in the U.S. economy was slower than expected during the pandemic.

In the third quarter, gross domestic product, which is the sum of all products and services, increased by 2.0% on an annual basis. Dow Jones surveyed economists and expected a reading of 2.8%.

This was the slowest increase in GDP since the plunge of 31.2% in the second quarter 2020. That period encompassed Covid-19’s transformation into a pandemic, which sent millions of people to unemployment and a halt to activity in the nation.

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