Home Business US economy slowed to a 2% rate last quarter in face of COVID

US economy slowed to a 2% rate last quarter in face of COVID

by staff

FILE – Shoppers don masks while shopping in a men and women’s clothing store in Chicago, Tuesday, Aug. 17, 2021. A new Commerce Department report issued Thursday shows the economy slowed to its slowest rate since last year’s start of the pandemic recession recovery in the third quarter. What’s more consumer spending, which fuels about 70% of overall economic activity, slowed to an annual growth rate of just 1.6% after having surged at a 12% rate in the previous quarter. (Antonio Perez / Chicago Tribune)

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