U.S. Economy Slowed in Third Quarter on Delta Surge, Supply Crunch

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The U.S. economy grew by 2.0% in the third quarter, with the Delta variant of Covid-19 and supply issues dampening gains.

Such a pace marked a sharp slowdown from robust gains earlier this year. Gross domestic product grew at a historically fast annual rate of 6.3% in the first quarter and 6.7% in the second quarter as an infusion of government stimulus, widespread business reopenings and rising vaccination rates fueled spending.