GDP Just Came Crashing Down

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Posted: Oct 28, 2021 9:25 AM
GDP Just Came Crashing Down

Source: AP Photo/Evan Vucci

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. 

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. 

As inflation on everyday household items continues to soar, the GDP is getting deflated. 

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