US economic growth slows to 1.5% in second quarter
The economy grew at an annual rate of 1.5% in the three months to June, down from 2.1% seen in the previous quarter.
US Economic Expansion Dips to 1.5% in Second Quarter
Official data indicates a deceleration in US economic expansion during the three-month period ending in June.
The Commerce Department reported that the American economy expanded at an annualized rate of 1.5% in the second quarter, a decrease from the 2.1% growth observed in the initial three months of the year.
This slowdown occurs as the world's largest economy continues to contend with the financial repercussions of the conflict with Iran and as American businesses navigate tariff policies.
The reported growth figure fell short of analysts' projections, with the decline attributed to reduced government expenditure, investment, and exports. Nevertheless, an uptick in consumer spending provided a positive impetus to the economy.