# U.S. Economy Slowed Dramatically in Third Quarter

By Human Events · Published 2021-10-28 · News & Analysis › Economy · https://humanevents.com/news/u-s-economy-slowed-dramatically-in-third-quarter

> The U.S. economy grew by 2 percent in the third quarter, with the Delta variant and supply chain crisis hurting gains. The pace marked a sharp decrease from the gains seen earlier in the year. The GDP soared at a 6.3 percent rate in the first quarter and 6.7 percent in the second quarter with \[…\]

The U.S. economy grew by 2 percent in the third quarter, with the Delta variant and supply chain crisis hurting gains.

The pace marked a sharp decrease from the gains seen earlier in the year. The GDP soared at a 6.3 percent rate in the first quarter and 6.7 percent in the second quarter with the reopening of businesses thanks to the vaccine, per the [Wall Street Journal.](https://www.wsj.com/articles/us-gdp-economic-growth-third-quarter-2021-11635371631?mod=djemalertNEWS)

However, those drivers dissipated from July to September, with a surge in virus cases and the supply chain crisis.

The Commerce Department’s third-quarter GDP estimate released Thursday said consumer spending rose at an annual rate of 1.6 percent in the third quarter, a dramatic slowdown from the second quarter 12 percent increase.