US Q2 GDP Growth Slows to 1.5%, Below Expectations, as Net Exports Decline

Published: Jul 31, 2026 19:28

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US Q2 GDP initial estimate grew at an annualized QoQ rate of 1.5%, below Q1's 2.1% and market expectations. Consumer spending and investment both remained strong, but net exports declined, dragging down the overall data. The US core PCE price index rose 0.1% MoM in June, up 3.3% YoY, pulling back from May. The overall PCE price index fell 0.1% MoM in June, turning negative for the first time since the pandemic outbreak in 2020.

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