US growth lower amid shortages of labor, supplyAFP, WASHINGTONUS economic growth “downshifted slightly” in July and last month amid shortages of workers and materials, as well as concerns about the rise of the Delta variant of SARS-CoV-2, the Federal Reserve said on Wednesday. The US surge in COVID-19 infections has led to the return of some restrictions and delayed the return of workers to some offices. A sustained rise in inflation is a concern for the White House, which on Wednesday announced an initiative to slow rising meat prices. Linking consolidation in the meat industry to food price increases, the White House said it would invest US$1.4 billion aimed at small businesses in the food supply chain. The Fed report said that sales of vehicles and homes in the US were depressed by low inventory, but construction rose modestly.

Source: Taipei Times September 09, 2021 15:56 UTC