Home Business U.S. economy falls short of expectations in the third quarter, “stagflation” risks looming-BBC News

U.S. economy falls short of expectations in the third quarter, “stagflation” risks looming-BBC News

by news dir

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The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce released data this Thursday (October 28). In the third quarter of this year, the U.S. gross domestic product (GDP) increased by 2.0% year-on-year.

This value is lower than market expectations. Previously, economists surveyed by Reuters had predicted an increase of 2.7%. This is also a significant slowdown compared to 6.7% in the second quarter of this year.

This value is the slowest growth rate since the second quarter of last year. At that time, in order to contain the first wave of the new crown epidemic, the United States adopted strict coercive measures, and the economy experienced a historic contraction.

Dragged down by the supply chain crisis

There are many reasons for the slower-than-expected growth of the US economy.

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