US GDP growth stays at 1.5% in Q2, imports weigh on output
The US economy grew at a 1.5% annual rate in the second quarter, matching the initial estimate, as a surge in imports of computer chips and AI equipment trimmed growth. Consumer spending, which accounts for about 70% of activity, expanded at a healthy 3.4% pace. A measure of underlying demand rose 4.2%, while inflation remained elevated at 3.7% in July.
This summary is AI-generated and original to Mobble; the linked article is the authoritative source.
Original headline: “U.S. economy grows at sluggish 1.5% pace in second quarter.” Browse more stories.