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US economic growth slowed in the second quarter of 2026 to an annual rate of 1.5%, compared to 2.1% in the first quarter. The increase in consumer spending (by 3.4%) and corporate investments (by 8.5%) helped support the growth, despite a 1% decline in government expenditure. Private sector sales rose by 4.2%, the highest in over three years. Meanwhile, inflation has increased, with the personal consumption expenditure (PCE) price index rising to 5.3% on an annual basis, exceeding the Federal Reserve's target. Data indicates that consumer spending remains strong despite the decline in government expenditure, amidst ongoing inflation pressures. Final growth estimates are expected to be released soon, with potential revisions to previous data.
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