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Larger tax refunds and the FIFA World Cup could not provide enough support for the U.S. economy as GDP growth came in below expectations for the second quarter, new government figures reveal.
The U.S. economy expanded 1.5 percent during the April–June period, down from the 2.1 percent gain in the first three months of 2026, according to data released on July 30 by the Bureau of Economic Analysis.
Economists had projected growth of 2.1 percent.
Consumer spending was the largest driver of second-quarter growth, surging 3.2 percent—up from 0.5 percent in the January–March period.
Gross private domestic investment also contributed sizably to last quarter’s expansion, climbing 3 percent. Within this category, business investment advanced more than 8 percent, reflecting the artificial intelligence (AI) infrastructure buildout….
The U.S. economy expanded 1.5 percent during the April–June period, down from the 2.1 percent gain in the first three months of 2026, according to data released on July 30 by the Bureau of Economic Analysis.
Economists had projected growth of 2.1 percent.
Consumer spending was the largest driver of second-quarter growth, surging 3.2 percent—up from 0.5 percent in the January–March period.
Gross private domestic investment also contributed sizably to last quarter’s expansion, climbing 3 percent. Within this category, business investment advanced more than 8 percent, reflecting the artificial intelligence (AI) infrastructure buildout….
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