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YOUR MONEY with Mark: Economy grows at worst rate since the beginning of the pandemic

Financial Advisor Mark Grywacheski told us why Monday, Nov. 1.

DAVENPORT, Iowa — The economic growth for the 3rd quarter has been released at 2%, according to Financial Advisor Mark Grywacheski.

Grywacheski says it was below Wall Street's forecast of 2.7%, and at one point this summer, the economy was expected to grow as much as 8% for the quarter. He says there are a number of concerns that continue to escalate that are weighing on this economy which keep it from growing and expanding a lot. 

"We're dealing with the most severe labor shortage in American history. Inflation, which is the year over year increase in consumer prices is now at a 30 year high, and these disruptions to global supply chains are only getting worse," Grywacheski said Monday, Nov. 1. 

There is hope for the final quarter of the year with COVID cases declining and vaccination rates increasing, plus holiday shopping. Your Money with Mark airs live on Mondays now in between 5:30 a.m. and 6:00 a.m.