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U.S. Q2 real GDP growth slowed as consumer spending stayed strong

The economy expanded 1.5% in Q2, down from 2.1% in Q1, while consumer spending rose 3.2% q/q.

Reported · Written up by our desk · Economy

Action Forex reports that U.S. real GDP grew 1.5% quarter-on-quarter on an annualized basis in the second quarter, slowing from 2.1% in the first quarter.

The outlet said the 1.5% pace was also below the consensus forecast of 2.0%, reflecting weaker overall activity despite a solid underlying contribution from households.

Action Forex added that consumer spending increased 3.2% q/q, and that spending on goods and services accelerated to 5.2% and 2.2% respectively.

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