The GDP came crashing down in the third quarter, missing expectations and coming in at just two percent. Economists predicted the number would land at 2.6/2.7 percent.
"In terms of GDP, 2.6 percent's what people were looking for. Not that many months ago we were looking for a number closer to 7 percent. This is a disappointment of two percent. Only up two percent," CNBC reported Thursday morning.
Another economic failure for the Biden-Harris administration.
— America Rising (@AmericaRising) October 28, 2021
CNBC on Q3 GDP: “2.6% is what people were looking for…this is a disappointment of 2%.” pic.twitter.com/woSJTxcqTX
Second quarter GDP numbers came in at 6.7 percent, making Q3 a significant drop.
"The broadest measure of economic performance – grew at a 2% annual rate during the three months through September, the slowest in five quarters, according to an advance estimate released Thursday by the Commerce Department," Fox Business reports.
July through September GDP report the worst since the US economy began its recovery from the #coronavirus pandemic, according to the Bureau of Economic Analysis.
— Steve Herman (@W7VOA) October 28, 2021
Recommended
JUST IN - U.S. GDP at disappointing 2.0% in Q3 vs 6.7% in prior Q2, missing the estimate of 2.7% by 0.7%.
— Disclose.tv (@disclosetv) October 28, 2021
Gross domestic product (GDP) for Q3, sucks. Missed the consensus forecast by nearly 1/3.
— Rich "The People's Pundit" Baris (@Peoples_Pundit) October 28, 2021
As inflation on everyday household items continues to soar, the GDP is getting deflated.
Q3 GDP economic activity decelerated to 2.0%: "The U.S. economy expanded at its slowest clip in over a year...and lower than expectations" (per @YahooFinance)
— Carol Roth (@caroljsroth) October 28, 2021
Who has been warning you about slowing growth + inflation?... https://t.co/zgkQQfKkKD
Join the conversation as a VIP Member