Posted by on November 24, 2021 6:02 pm
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Categories: Breaking News Epoch Times News

3rd-Quarter GDP Misses Expectations With Tepid Print of 2.1 Percent

America’s economy expanded at an annualized pace of 2.1 percent in the third quarter, updated Commerce Department figures showed on Nov. 24, and while that’s faster than the earlier “advance” estimate of 2.0 percent, it missed analyst forecasts for a 2.2 percent pace of growth. While Wednesday’s print came in below expectations and sharply lower than the 6.7 percent pace of growth in the second quarter, economists are generally predicting a solid rebound in the final quarter of the year, as long as rising inflation and a recent uptick in COVID-19 cases don’t dampen economic activity. A separate Census Bureau report (pdf) released earlier in the day showed that U.S. exports jumped by 10.7 percent month-over-month in October, prompting analysts at Capital Economics to post an upward revision to their fourth-quarter GDP forecast. “The bigger news this morning was the huge 10.7 percent m/m surge in exports in October, which …

Originally appeared on The Epoch Times

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