The U.S. economy grew at a 1.5% annualized rate in the last quarter, from April to July, the Commerce Department’s Bureau of Economic Analysis said Thursday in its advance estimate of the quarterly Gross Domestic Product.The economy’s slowed growth in the quarter is being attributed to a widening in the trade deficit, according to analysts.
However, the report showed signs of underlying strength in the economy, including an acceleration in consumer spending and robust business investment in equipment related to the buildout of artificial intelligence infrastructure, according to Reuters.
GDP is the country’s output of goods and services. First quarter GDP for 2026 was 2.1%.
Economists polled by Reuters forecasted GDP rising at a 2.1% pace.
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