Fortune· 2h ago· 1 min read
The U.S. economy expanded at a sluggish 1.5% pace from April through June as rising imports weighed on growth. But consumer spending rose. And the Federal Reserve's favored measure of inflation grew more slowly last month, but remained above the central bank's 2% target.
The Commerce Department reported Thursday that growth in U.S. gross domestic product — the nation’s output of goods and services — decelerated from 2.1% in the first three months of 2026 and came in below economists' expectations.
The Commerce Department also said Thursday that its personal consumption expenditures (PCE) price index, the one favored by the Fed, rose 3.7% last month from June 2025 , down from a 4.1% year-over-year increase in May. Excluding volatile food and energy prices, so-called core consumer prices were up 3.3% from a year earlier, little-changed from 3.4% increase in May.
The Fed on Wednesday…
Continue reading at FortuneDiscussion
Be the first to comment.
Never miss a headline
Get breaking Nigerian and world news straight to your inbox.
Related Articles
Americans are spending plenty — but they’re saving much less
11m ago
Read MoreAI wizkid Leopold Aschenbrenner forced to sell entire portfolio after rout
22m ago
Read More
2026 US Open Wild Card Recipients And Players Who Might Get One
58m ago
Read MoreEarnings call transcript: Churchill Downs posts record Q2 2026 revenue, shares fall
22m ago
Read MoreEarnings call transcript: Euronet misses Q2 2026 estimates as shares slide
22m ago
Read MoreEarnings call transcript: NextDecade tops Q2 2026 loss forecast as stock rises
22m ago
Read MoreLatest in Business
Earnings call transcript: Endeavour Mining posts Q2 2026 EPS beat
Investing.com · 22m ago
Earnings call transcript: Upbound tops Q2 2026 estimates but stock slips
Investing.com · 22m ago
Medallion Financial Q2 2026 slides: loan growth hits 12.5%, margins compress
Investing.com · 23m ago
Justin Bieber’s Song Hits A New Peak After A Major Performance
Forbes · 36m ago
Why Luxury Boards Need Stronger AI Governance Now
Forbes · 41m ago
Blackstone to acquire DarkVision from Koch Engineered Solutions
Investing.com · 23m ago
Earnings call transcript: Altria Q2 2026 revenue beats, but shares fall
Investing.com · 23m ago
Allegro Q1 FY27 slides: data center surge drives beat, stock falls
Investing.com · 23m ago
Most Read Today
LeBron James officially joins 76ers on two-year contract | Report
Yahoo Sports · 4d ago
Six students sustain minor injuries as fire destroys Leklebi SHS House Master's apartment
3News · 4d ago
Insecurity: Group commends Tinubu’s approval of 12 new Nigerian Army Divisions
Nigerian Tribune · 2d ago
‘176,000 Nigerians visited Ghana in 2025’
Punch · 2d ago
FG predicts drop in cooking gas prices
Daily Trust · 2d ago
After Trump launched war on Iran, hiked inflation through tariffs, Johnson labels election ‘common sense vs. communism’
Fortune · 3d ago
eBay reaches $56M settlement with e-commerce newsletter writers it terrorized in 2019
TechCrunch · 2d ago
Chase Freedom Rise review: A credit-building card with rewards and a path toward an upgrade
CNBC · 2d ago