A decline in net exports, which can be volatile from quarter to quarter, masked strength in underlying demand. PHOTO: BLOOMBERG[WASHINGTON] The US economy grew at a weaker-than-expected pace in the second quarter despite a pickup in consumer spending and solid business investment. A decline in net exports, which can be volatile from quarter to quarter, masked strength in underlying demand. Business investment continued to boom amid a rush to invest in artificial intelligence. Separate data out Thursday showed inflation-adjusted consumer spending climbed a robust 0.4 per cent in June, matching the strongest since July 2025.