Economic Growth Slows to 2 Percent on Slowdown in Consumer Spending and COVID-19 Impacts-US News | The Epoch Times

The U.S. economy expanded at an annualized pace of 2 percent in the third quarter, a figure that is well below forecasts, driven down by a slowdown in consumer spending and a resurgence in COVID-19 cases that led to renewed restrictions and delays of reopening of businesses. Data released on Oct. 28 by the Commerce Department show gross domestic product (GDP) rising by 2 percent in the third quarter, after growing 6.7 percent in the second quarter. Economists polled by Dow Jones expected third-quarter GDP to rise by 2.8 percent, with Oct. 28’s print coming as a downside surprise. “Even so, that ‘disappointing’ reading is consistent with the U.S. long-term trend, likely only a fairly temporary speed bump caused by the global traffic jam of goods with which we’ve become all too familiar,” Bankrate senior economic analyst Mark Hamrick told The Epoch Times in an emailed statement. The Commerce Department …

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Taco Bell, KFC Power Yum Brands Quarterly Profit, Revenue Beat-US News | The Epoch Times

Thu Oct 28 , 2021
KFC owner Yum Brands Inc. beat Wall Street estimates for quarterly revenue and profit on Thursday, as steady demand for its fried chicken and tacos cushioned the blow from a slowdown in sales in its Pizza Hut chain. Rival fast-food chains Chipotle Mexican Grill and McDonald’s have also delivered a […]

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