US economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate
- The U.S. economy grew at a 1.5% pace from April through June.
- Consumer spending increased at a 3.4% annual rate, up from 0.5% in the previous quarter.
- Imports rose at a 12.5% annual pace, negatively impacting GDP growth by 1.64 percentage points.
- Business investment, excluding housing, rose at an 8.5% pace, driven by AI investment.
- A measure of underlying economic strength grew at a 4.2% rate, up from 1.7% in the first quarter.
The U.S. economy grew at a sluggish 1.5% pace from April through June, according to the Commerce Department. This growth rate is unchanged from the department's first estimate. Consumer spending, which accounts for about 70% of U.S. economic activity, increased at a healthy 3.4% annual rate, significantly higher than the 0.5% growth observed in the first quarter.
However, the lackluster overall growth was attributed to a rise in imports, which increased at a 12.5% annual pace during the second quarter. This surge in imports, particularly in computer chips and products supporting artificial intelligence investment, subtracted 1.64 percentage points from the GDP growth.
Despite the sluggish growth, business investment, excluding housing, rose at an 8.5% pace, reflecting the ongoing boom in AI investments. Additionally, a measure of the economy's underlying strength, which excludes volatile government spending and trade figures, grew at a robust 4.2% rate, up from 1.7% in the first quarter.
美国经济在第二季度以缓慢的1.5%增速扩张，与早期估计一致
美国经济在4月至6月期间以缓慢的1.5%的增速扩张，商务部报告称。这一增长率与该部门的首次估计一致。消费支出占美国经济活动的约70%，以健康的3.4%的年增速增长，显著高于第一季度的0.5%增速。
然而，整体增长乏力的原因归因于进口的上升，第二季度进口以12.5%的年增速增长。这一进口激增，尤其是在计算机芯片和支持人工智能投资的产品方面，削减了1.64个百分点的GDP增长。
尽管增长乏力，不包括住房的商业投资以8.5%的增速上升，反映出人工智能投资的持续繁荣。此外，剔除波动性政府支出和贸易数字的经济基本面强度指标以4.2%的增速增长，高于第一季度的1.7%。