US GDP falls short as supply-chain disruptions, labor shortages stunt comeback

The U.S. economy grew less than expected in the three months through June as supply-chain disruptions and labor shortages slowed the pace of economic activity while the country reopened from its COVID-19 lockdowns. 

Gross domestic product – the broadest measure of economic performance – grew at a 6.5% annual rate during the second quarter, according to an advance estimate released Thursday by the Commerce Department. Analysts surveyed by Refintiv were expecting 8.5% growth. First-quarter GDP was revised down to 6.3% from its previous reading of 6.4%.

The above-trend growth in the second quarter reflected...