national
United States Economy Grows at 1.5 Percent Pace in Second Quarter
Just the facts
The United States gross domestic product expanded at an annualized rate of 1.5 percent in the second quarter, reflecting a slowdown from previous quarters. Economic reporting indicates that modest consumer spending and corporate inventory adjustments contributed to the sluggish performance. Meanwhile, measures of core inflation remained above central bank target levels, complicating upcoming monetary policy decisions by the Federal Reserve. Gross domestic product measures the monetary value of all final goods and services produced within a country over a specific time period.
Why this is news
The United States Department of Commerce released second-quarter economic data indicating a deceleration in national economic growth alongside persistent inflation.
Sources
This summary is compiled strictly from the original reporting below.