The growth rate of the US economy in the second quarter was weaker than expected, and corporate investment remained strong despite a recovery in consumer spending. Preliminary estimates released by the US Bureau of Economic Analysis on Thursday showed an inflation-adjusted GDP growth rate of 1.5% per annum in the second quarter. The decline in net exports overshadowed the strong performance of basic demand. Net export data usually fluctuates greatly from quarter to quarter. Consumer spending, which accounts for about two-thirds of economic activity, is equivalent to an annual increase of 3.2%. Commercial investment continues to grow rapidly, driven by companies competing to invest in artificial intelligence. At the same time, driven by falling gasoline prices, the inflation index that the Federal Reserve values, the personal consumption expenditure price index, fell 0.1% month-on-month in June. The core PCE price index, which excludes food and energy, rose 0.1% month-on-month.

The growth rate of the US economy in the second quarter was weaker than expected, and corporate investment remained strong despite a recovery in consumer spending. Preliminary estimates released by the US Bureau of Economic Analysis on Thursday showed an inflation-adjusted GDP growth rate of 1.5% per annum in the second quarter. The decline in net exports overshadowed the strong performance of basic demand. Net export data usually fluctuates greatly from quarter to quarter. Consumer spending, which accounts for about two-thirds of economic activity, is equivalent to an annual increase of 3.2%. Commercial investment continues to grow rapidly, driven by companies competing to invest in artificial intelligence. At the same time, driven by falling gasoline prices, the inflation index that the Federal Reserve values, the personal consumption expenditure price index, fell 0.1% month-on-month in June. The core PCE price index, which excludes food and energy, rose 0.1% month-on-month.