BREAKING: The U.S. economy slowed to 2.1% growth rate in second quarter, down from a 3.1% gain in the first quarter. But consumer spending accelerated to growth at a sizzling 4.3% rate after a lackluster 1.1% annual gain in the first quarter.
WASHINGTON — The U.S. economy slowed sharply in the second quarter even as consumers stepped up their spending.
The Commerce Department says the gross domestic product grew at a 2.1% annual rate in the April-June quarter, down from a 3.1% gain in the first quarter. But consumer spending, which accounts for 70% of economic activity, accelerated to growth at a sizzling 4.3% rate after a lackluster 1.1% annual gain in the first quarter. This spending strength was offset by a widening of the trade deficit and slower business inventory rebuilding, which together pared GDP by 1.5 percentage points.
Economists worry that an economic slowdown could last for the rest of the year as the economy reflects weakness from overseas and a confidence-shaking trade battle between the United States and China.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. Economy Grew at 2.1% Rate in Second QuarterThe U.S. economy grew at a healthy clip in the second quarter as higher consumer spending offset a decline in business investment, keeping the expansion on track despite trade tensions and cooling global activity.
Leer más »
GDP slows to 2.1% in second-quarter but beats expectationsGrowth decelerated in the second quarter, but not by as much as Wall Street thought, as tariffs and a global slowdown weighed on the U.S. economy, the Commerce Department reported Friday.
Leer más »
The US economy slowed sharply in the second quarter as Trump's trade war ragedConsumer spending at home partially offset weakness caused by global trade disputes that began more than a year ago.
Leer más »
U.S. economic growth seen slowing in second quarterThe U.S. economy likely grew at its slowest pace in more than two years in the s...
Leer más »
Oil rises on U.S. inventory decline but slowing economy caps gainsOil prices rose 1% on Thursday amid Middle East tensions and a big fall in U.S. ...
Leer más »