US GDP Q3-21
US GDP Q3-21
By Ben Casselman @bencasselman
"Economic output grew 0.5% in the third quarter (2% annualized). That's a sharp slowdown from the 1.6% (6.7% annualized) in Q2, as supply chain woes and the rise of the Delta variant constrained growth."
"U.S. GDP surpassed its prepandemic level in the second quarter, but it's still well below the prepandemic trend."
"But inflation is a big part of the story here. Nominal (non-inflation-adjusted) GDP is back on its prepandemic trend. But real (inflation-adjusted) GDP is below. Fits with the story of demand outstripping supply, so some of it ends up as higher prices, not more production."
Economic output grew 0.5% in the third quarter (2% annualized). That's a sharp slowdown from the 1.6% (6.7% annualized) in Q2, as supply chain woes and the rise of the Delta variant constrained growth.https://t.co/cQahKAkwge
— Ben Casselman (@bencasselman) October 28, 2021
