U.S. GDP expanded 2.3% in third quarter

According to the data released by Commerce department, the U.S economy grew at a annual rate of 2.3% in Q3 from a previous estimate of 2.1%.

Growth rate slowed in the third quarter due to the spread of delta variant of the corona virus. Growth in the first half averaged 6.5% after which it fell due to COVID.

Consumer spending also grew at a pace of 2% in the second quarter compared to a prior estimate of 1.7%.

Source: News | U.S. Department of Commerce

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