The Economy Delivers Some Good News Ahead of Thanksgiving
The nation’s gross domestic product increased at an annual rate of 2.1% in the third quarter, slightly above the prior estimate of 2%, according to the second reading from the Bureau of Economic Analysis released Wednesday.
Meanwhile, a measure of inflation closing followed by the Federal Reserve was unchanged in the second estimate issued Wednesday.
The economy continues to register a strong performance in the fourth quarter following a slowdown in the third quarter brought on by the stubbornness of the delta variant of the coronavirus, worries over inflation and shortages of labor and key materials. Some of those pressures appear to be easing, while consumers have continued spending even while saying they are more pessimistic about the economy.
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