U.S. economic growth slows sharply in July-Sept. amid pandemic

Politics Economy

The U.S. economy expanded an annualized 2.0 percent in real terms in the July to September quarter, marking a sharp slowdown amid the coronavirus pandemic resurgence due to the Delta variant, data by the Commerce Department showed Thursday. The growth in terms of inflation-adjusted gross domestic product slowed from a 6.7 percent increase in the previous quarter and also fell short of the average market forecast of 2.7 percent growth. According to the department, private consumption, which accounts for two-thirds of the world's largest economy, increased 1.6 percent, down from 12.0 percent in ...

Kyodo News

Kyodo News