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US economy growth slows to 1.5% in Q2
A report from the U.S. Department of Commerce showed that U.S. economic growth in the second quarter stalled at 1.5%, which is below experts' expectations of 1.8%, after the economy grew by 2.1% in the first quarter. This comes amid rising inflation, with the annual inflation rate reaching 3.7% in June, along with a slight decline in core price indicators. Despite the slowdown in GDP, the data indicated strength in consumer spending, which increased by 2.1%, with solid growth in domestic demand at 3.9%. The decline in government spending and inventories contributed to the overall weak growth. Meanwhile, bond and stock yields rose after the data was released. Inflation remains one of the most critical concerns for U.S. monetary policy.
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