US economy slows in third quarter as spending and business investment growth sag - Jason Furman and Willie Powell

October 28,2021, Opinion: "US gross domestic product (GDP) growth slowed from its pace over the previous year, falling to a 2.0 percent annual growth rate, around the economy's underlying potential growth rate but not at a pace that would narrow the economy's continued shortfall. GDP growth in the third quarter was entirely accounted for by a slower drawdown of inventories as consumption growth was weak (with increases in service spending only slightly outpacing reductions in spending on goods) and business investment in equipment and structures fell." Read Via PIIE

HKS Author - Jason Furman