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US economic growth slows to 1.5% in Q2, below expectations
['The Frontier Post']
The Frontier Post
Economists had forecast gross domestic product (GDP) growth of 2.1% for the April-June period.
The Bureau of Economic Analysis said the economy slowed from a revised 2.1% expansion in the first quarter.
The slowdown from the previous quarter was driven by a downturn in government spending and weaker growth in investment and exports, while consumer spending accelerated.
The personal consumption expenditures (PCE) price index increased 5.1%, compared with 4.6% in the first quarter.
Current-dollar GDP increased at an annualized rate of 7.9% during the quarter.