US GDP grew by 6.5 percent in Q2, well below expectations

Supply-chain constraints and labour shortages continue to temper US economic growth. 

The United States economy grew substantially in the second quarter but still fell short of expectations as supply-chain disruptions and labour shortages continued to temper growth despite a big boom in consumer spending. Gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021, according to an advance estimate from the US Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent, revised downward from 6.4 percent.