GDP Crashing! – The ‘Blue Chip Concensus’ In July Was GDP Would Be Greater Than 7% – Today It Lands at 2%
Biden’s recovery is a failure. The GDP reportedly grew at a dismal rate of 2% in the 3rd Quarter – way under original projections early in the Quarter and 2nd Quarter’s reported 6.7%.
The government’s Bureau of Economic Analysis (BEA) released the projection this morning:
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 6.7 percent…
…The increase in third quarter GDP reflected the continued economic impact of the COVID-19 pandemic. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country.
