US GDP falls short as supply-chain disruptions, labor shortages stunt comeback

Can supply keep up with demand as economy recovers?

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The U.S. economy grew less than expected in the three months through June as supply-chain disruptions and labor shortages slowed the pace of economic activity as the country reopened from its COVID-19 lockdowns. 

Gross domestic product – the broadest measure of economic performance – grew at a 6.5% annual rate during the second quarter, according to an advance estimate released Thursday by the Commerce Department. Analysts surveyed by Refintiv were expecting 8.5% growth. 

First-quarter GDP was revised down to 6.3% from its previous reading of 6.4%. 

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Jonathan Garber Fox News