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September 9, 2021

Fed says growth ‘downshifted'

WASHINGTON (AP) — 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, travel and tourism in most parts of the country, reflecting concerns about the spread of the delta variant.


 
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