Arabic version: تباطؤ نمو الناتج المحلي الإجمالي الأميركي إلى 1.5% في الربع الثاني

According to Cnbc, the U.S. economy grew at a 1.5% annualized rate in the April-through-June quarter, below the 1.8% forecast in a Dow Jones survey and down from 2.1% growth in the first quarter. The Commerce Department’s Bureau of Economic Analysis reported the figures adjusted for seasonality and inflation.

The slower headline reading reflected declines in inventories and federal government spending, while several private-sector measures remained stronger. Personal spending rose 2.1%, following a 0.4% gain in the first quarter. Final sales to private domestic purchasers, an indicator of underlying demand, increased 3.9%.

Inventories fell 0.7% and federal spending declined 0.3%, subtracting from gross domestic product. Gross private domestic investment increased 0.5%, exports rose 0.5%, and imports declined 1.5%.

Separate June data showed the personal consumption expenditures price index declined 0.1% for the month, leaving headline inflation at 3.7% annually. Core PCE, which excludes food and energy, rose 0.1% in June and stood at 3.3% from a year earlier. Both inflation measures remained above the Federal Reserve’s 2% target.

Personal expenditures increased 0.3% in June, while personal income rose 0.2%. The personal savings rate fell to 2.7%, its lowest level in four years. The figures followed a 9-3 Federal Reserve vote to keep its benchmark borrowing rate in a 3.5%-3.75% range.