Economic growth rate slows to 2% on a sharp slowdown in consumer spending

A truck picks up a shipping container at the Port of Savannah in Georgia. The supply chain crisis has created a backlog of nearly 80,000 shipping containers at this port, the third-largest container port in the United States, with around 20 ships anchored off the Atlantic coast, waiting to offload their cargo.The rate of growth for the U.S.

Declines in residential fixed investment and federal government spending helped hold back gains, as did a surge in the U.S. trade deficit, which widened to a near-record $73.3 billion in August. In a separate economic report, jobless claims totaled 281,000 for the week ended Oct. 23, another pandemic-era low and better than the 289,000 estimate. The total marked a decrease from the previous week's 291,000.The July-to-September period saw a major clogging of the nation's supply chain, which in turn dampened a recovery that began in April 2020 following the shortest but steepest recession in U.S. history.

I appreciate your determination in telling me I can do it! Thank you for your perseverance, support, and love I just received my payment ,you are a genius. If anyone out there seeking for a life changing opportunity contact jbrwon1

2% growth after printing trillions of empty dollars 🤣🤣🤣 and they say China's 5% is weak

What a JoeBiden government will get you. Surprised?

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European Central Bank expected to hold steady as economy slows and inflation soarsSlowing growth and higher inflation could render October's ECB meeting more eventful than originally anticipated. good Money start to go to Europe 🤩🤩🤩 PureDogecoin Hyperinflation
Source: CNBC - 🏆 12. / 72 Read more »

Comcast is set to report third-quarter earnings before the bellComcast has seen record broadband subscriber growth in recent quarters, but the company warned that growth is slowing.
Source: CNBC - 🏆 12. / 72 Read more »

Report: U.S. Consumers Spend $900 Billion Each Year After Saying ‘Gimme One Of Those, Too’CAMBRIDGE, MA—According to a report published this week in the Quarterly Journal Of Economics, American consumers spend nearly a trillion dollars each year after uttering the phrase “Gimme one of those, too.” “Even in recession conditions, we found that U.S. consumers spend about $900 billion annually when they reach… Woa thanks for tip Yep Glenthefossa Damn and those chains still can't pay their workers a living wage
Source: TheOnion - 🏆 724. / 51 Read more »

The picture won't be pretty for third-quarter economic growth, but it should get betterWhen the Commerce Department releases its GDP estimate it likely will show an increase of just 2.8%.
Source: CNBC - 🏆 12. / 72 Read more »

U.K., Canada Lead West in Weaning Economies Off Covid-19 Pandemic SupportThe U.K. dialed back government stimulus for the fast-growing British economy, one of the first big Western economies to step away from the emergency policies
Source: WSJ - 🏆 98. / 63 Read more »

Bank of America downgrades retailer BJ's on supply chain worriesNew for subscribers: Bank of America downgrades retailer BJ's on supply chain worries. Check out CNBCPro today.
Source: CNBC - 🏆 12. / 72 Read more »