US Economic Growth Cools to 1.5% in Second Quarter

U.S. economic growth decelerated to an annual rate of 1.5% in the second quarter, a decline from the 2.1% expansion recorded in the first three months of the year, according to data from the Commerce Department.

The slowdown comes as the world's largest economy continues to navigate economic pressures, including the financial impact of the war with Iran and ongoing trade tensions related to tariffs.

The quarterly growth figure fell short of analysts' expectations. Key factors contributing to the downturn included reduced government spending, lower investment, and a decrease in exports. Despite these headwinds, the economy received a boost from an increase in consumer spending.