{"id":7061,"date":"2026-07-30T15:14:54","date_gmt":"2026-07-30T15:14:54","guid":{"rendered":"https:\/\/bestusamoverss.com\/?p=7061"},"modified":"2026-07-30T15:14:54","modified_gmt":"2026-07-30T15:14:54","slug":"the-economy-slowed-a-bit-but-americans-continued-to-spend","status":"publish","type":"post","link":"https:\/\/bestusamoverss.com\/?p=7061","title":{"rendered":"The economy slowed a bit \u2014 but Americans continued to spend"},"content":{"rendered":"
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The U.S. economy grew more slowly this spring than it did earlier in the year, but consumers continue to spend freely. <\/p>

Read more The U.S. retaliates against a \u2018surprise attack\u2019 by Iran in Jordan<\/a><\/p>

Gross domestic product \u2014 the broadest measure of economic activity \u2014 grew at an annual rate of 1.5% in April, May and June, according to a report Thursday from the Commerce Department. That’s a modest slowdown from the first three months of the year when GDP grew at a 2.1% pace. A decline in government spending and a jump in imports, which count against the domestic tally, account for much of the change.<\/p>

Consumer spending continues to power the economy, growing at a solid 2.1% pace during the second quarter. It’s not clear how long shoppers can keep that up, however, in the face of rising prices. <\/p>\n

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A separate report from the Commerce Department shows prices in June were up 3.7% from a year earlier. Inflation has been outpacing wage gains in recent months, forcing shoppers to dip into savings or borrow money to support their spending. The personal savings rate fell to 2.7% in June \u2014 a three year low. <\/p>

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The Commerce Department’s inflation yardstick is closely watched by the Federal Reserve. Prices have been climbing faster than the central bank would like. But the Fed opted not to raise its benchmark interest rate on Wednesday. <\/p>

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\"WASHINGTON,<\/figure>\n<\/figure>\n
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Economy <\/h3>\n

A divided Federal Reserve holds interest rates steady despite high inflation<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

Trade swings weighed on GDP during the quarter. Exports rose during the quarter, but imports rose faster. <\/p>

“Trade has gone up and down and all around and clearly the tariffs are swinging things around,” said Mark Zandi, chief economist at Moody’s Analytics. “One quarter it might add to growth. The next quarter it might subtract from growth. Net over time, it’s kind of sort of a wash.” <\/p>

Read more The renter-owner wealth gap is wider than ever, as many are priced out of buying<\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The U.S. economy grew at an annual rate of 1.5% in the spring, according to the Commerce Department. 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