The coronavirus delta variant took a bite out of the U.S. economy in August, but the new strain didn't do much damage.
The coronavirus delta variant took a bite out of the U.S. economy in August, but the new strain didn’t do much damage.
Instead, Americans spent more on goods. Grocery receipts, for example, jumped 2% and rose at the fastest pace in a year and a half. Even with flat sales in August, however, restaurant receipts have risen at a nearly 10% annualized rate through the first eight months of 2021. “I look for the consumer to get right back to it in October, by which time the delta wave should be in full retreat,” said chief economst Stephen Stanley of Amherst Pierpont Securities.
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