Fed survey: Growth ‘downshifted’ in summer due to COVID

Fed survey: Growth ‘downshifted’ in summer due to COVID

By Martin Crutsinger | The Associated Press
U.S. economic activity “downshifted” in July and August due to rising concerns about COVID’s delta variant, as well as supply chain problems and labor shortages, the Federal Reserve’s latest survey of the nation’s business conditions revealed.
The Fed survey, released Wednesday, said the slowdown was largely attributable to a pullback in dining out,…

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