US economy expands 1.5% in Q2
The US economy expanded at a slower-than-expected annualised pace of 1.5% in the April-June quarter, as a widening trade deficit weighed on growth despite strong consumer spending and continued investment in artificial intelligence-related infrastructure, according to data released by the Commerce Department on Thursday.The advance estimate from the Commerce Department's Bureau of Economic Analysis showed gross domestic product (GDP) slowed from a 2.1% annualised growth rate in the first quarter. Economists polled by Reuters had expected the economy to grow at a 2.1% pace. Also Read: The US is