United States economic outlook: Third quarter of 2021

Abstract

Economic growth in the United States slowed to 2.1% year-on-year in the third quarter of 2021, from 6.7% year-on-year in the second quarter of 2021. Consumer spending in the third quarter rose at its slowest pace since the recovery began, as durable goods spending fell sharply amid supply shortages and rising inflationary pressures. The labour market remained strong, averaging 651,000 new jobs per month. With the Federal Reserve shifting its stance towards reducing accommodative measures at a faster pace, Latin America and the Caribbean may experience tighter external financial conditions next year. The United States economic outlook: third quarter of 2021 presents and analyses macroeconomic developments in the United States economy and examines how they could affect financial conditions in Latin America and the Caribbean. The report includes the gender perspective of the impact of the pandemic on the labour market.