{"id":6088,"date":"2026-08-26T23:10:25","date_gmt":"2026-08-26T23:10:25","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=6088"},"modified":"2026-08-26T23:10:25","modified_gmt":"2026-08-26T23:10:25","slug":"u-s-economy-grows-at-sluggish-1-5-pace-in-second-quarter","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=6088","title":{"rendered":"U.S. economy grows at sluggish 1.5% pace in second quarter"},"content":{"rendered":"
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Growth in gross domestic product \u2014 the nation\u2019s output of a goods and services \u2014 decelerated from a 2.1% pace from January through March, the Commerce Department reported Wednesday. The second-quarter growth number was unchanged from the department\u2019s\u00a0first estimate.<\/p>\n

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Still, consumer spending \u2014 which accounts for about 70% of U.S. economic activity \u2014 increased at a healthy 3.4% annual clip, up from 0.5% in the January-March period.<\/p>\n

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The reason for the lackluster growth was imports. They are subtracted from growth because GDP is only supposed to count domestic production. Imports rose at a 12.5% annual pace from April through June, partly due to a surge in shipments of computer chips and other products that support\u00a0artificial intelligence investment, and sliced 1.64 percentage points off second-quarter growth.<\/p>\n

Beyond the headline figures, the U.S. economy has proven surprisingly resilient in the face of\u00a0fighting with Iran\u00a0and the\u00a0spike in energy prices\u00a0it caused. Business investment, excluding housing, rose at a 8.5% pace in the second quarter, reflecting the AI investment boom. And a measure of the economy\u2019s underlying strength \u2014 which strips out volatile government spending and trade numbers \u2014 grew at a strong 4.2% rate, up from 1.7% in the first quarter.<\/p>\n

Investment in housing rose, ticking up for the first time since the end of 2024. The housing market has been depressed by high mortgage rates,.<\/p>\n

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Wednesday\u2019s report was the second of three Commerce Department looks at second-quarter GDP growth. The third and final report is due Sept. 30.<\/p>\n

Also on Wednesday, the U.S. reported that an\u00a0inflation\u00a0measure closely watched by the Federal Reserve was unchanged last month in the latest sign that many Americans are still struggling with\u00a0higher costs.<\/p>\n

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The Commerce Department\u2019s\u00a0\u00a0showed that prices rose 3.7% in July compared with a year earlier, but the pace was the same as June. Inflation has worsened since the U.S. and Israel attacked Iran in late February, when it stood at 2.9%. It\u2019s noticeably above the Fed\u2019s target of 2%.<\/p>\n

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Stubbornly high prices are shaping up to be a key issue in the midterm elections, now just 10 weeks away, particularly as the Iran war keeps\u00a0gas prices high, President Donald Trump is\u00a0threatening new tariffs\u00a0on\u00a0Canada\u00a0and\u00a0China, and spending on AI infrastructure has\u00a0pushed up the cost\u00a0of computers, gaming consoles, and semiconductors.<\/p>\n

Read more Baby boomers are collecting 265% of what they paid into Social Security\u2014and millennials are paying the price<\/a><\/p>\n

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GDP counts domestic production\u2014meaning the surge in computer chip and AI investment shipments sliced 1.64 percentage points off.<\/p>\n","protected":false},"author":1,"featured_media":6087,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136],"tags":[],"class_list":["post-6088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer-spending"],"yoast_head":"\nU.S. economy grows at sluggish 1.5% pace in second quarter - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=6088\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. economy grows at sluggish 1.5% pace in second quarter - 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