U.S. economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate
Summary
The U.S. economy grew by 1.5% from April to June, which is slower than the 2.1% growth seen from January to March. Consumer spending remained strong during this period.Key Facts
- The U.S. economy grew at a 1.5% rate in the second quarter of the year.
- This growth rate is slower than the 2.1% rate from the first quarter.
- The Commerce Department confirmed this growth rate without any change from its earlier estimate.
- Gross Domestic Product (GDP) measures the total value of goods and services produced in the country.
- Despite slower overall growth, consumers continued to spend money at a steady pace.
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