US Q2 Growth Slows to 1.5% as Inflation Remains Above Target
TL;DR Summary
U.S. GDP expanded 1.5% in Q2, below forecasts and dragged by weaker inventories and federal spending, even as consumer spending stayed solid. Inflation remains elevated with core PCE at 3.3% (headline PCE around 3.7% year-over-year) and the Fed holding rates at 3.5%–3.75%. June spending rose 0.3% and the savings rate fell to 2.7%, the lowest in four years. Exports rose and imports fell, while energy prices eased and inventories/government spending subtracted from growth, underscoring ongoing inflation pressures despite steady demand.
- U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3% CNBC
- US economy grows at a sluggish 1.5% in second quarter with inflation stubbornly high Anchorage Daily News
- U.S. Economic Growth Slowed in the Second Quarter The New York Times
- US economic growth slows to 1.5% in second quarter BBC
- US GDP Grows Less-Than-Expected 1.5% Despite Strong Consumer Bloomberg.com
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