A man walks past a gas station in New York, the United States, Aug. 11, 2021.(Photo: Xinhua)

The US economy grew at the slowest pace in the third quarter since the recovery began in April 2020, as the resurgence in Delta variant-related coronavirus cases and supply chain bottlenecks led to strained consumer demand, hampering the growth of the world's biggest economy. 

The US Commerce Department on Thursday released its first estimate for third-quarter annualized GDP growth at 2 percent, lower than Dow Jones' estimate of 2.8 percent. 

Sluggish consumption resulted in the slow growth of the economy in the third quarter, as new cases and supply chain disruptions and shortages brought problems to America's supplies, said Tian Yun, an economist based in Beijing.

"American consumers are in an awkward circumstance: they have money but can't buy what they want," he told the Global Times. 

Consumption comprises about two-thirds of overall US economic activity, the largest component of its GDP.

The consumer price index increased 0.4 percent in September from the prior month, pushing up the prices of food, rent and other goods.  

The US is not the only victim of global supply chain bottlenecks. China, the world's second-largest economy, also reported its GDP growth in the third quarter hit a one-year low of 4.9 percent amid power shortages and global supply chain problems. 

Tian noted that COVID-19 flare-ups also led to tighter Chinese virus prevention and control measures, which dented economic growth, but the overall performance remained stable. 

 "Thanks to years of company reform and measures securing economic circulation, China didn't see mass supply shortages like the US," Tian said.

"By comparison, the US results showed something went wrong with its economic cycle. The Biden administration must be under huge pressure at present as he vowed he would prevent China from passing the US to become the most powerful country in the world," the Beijing-based expert said. 

As long as there's no easing in US monetary policy, it won't be a big problem for economic growth to continue, but it must need Chinese support in securing supplies; otherwise, it will be pretty hard for the major power to control inflation, Tian warned.