Economic growth slowed sharply over the summer as supply-chain bottlenecks and the resurgent pandemic restrained activity at stores, factories and restaurants.
Gross domestic product, adjusted for inflation, grew 0.5 percent in the third quarter, the Commerce Department said Thursday. That was down from 1.6 percent in the second quarter, dashing earlier hopes that the recovery would accelerate as the year went on.
Growth in consumer spending, which has helped drive the recovery, slowed to 0.4 percent, from 2.9 percent in the second quarter, and spending on goods fell sharply. Business investment also slowed.
On an annualized basis, G.D.P. rose 2 percent in the third quarter, down from 6.7 percent in the second quarter.
The slowdown was partly a result of the spread of the Delta variant of the coronavirus, which led many Americans to pull back on travel, restaurant meals and other in-person activities. More recent data suggests that…
