US GDP Grows 1.5% in Q2, Below 2.1% Forecast
The US economy expanded at an annualized rate of 1.5% in the second quarter, according to the first estimate, falling short of the 2.1% consensus. This follows 2.1% growth in Q1.
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The U.S. Bureau of Economic Analysis reported Thursday that gross domestic product grew at an annualized 1.5% pace in the second quarter, missing the median forecast of 2.1%. This marked a slowdown from the 2.1% expansion seen in Q1.
The softer reading may fuel expectations of a less aggressive Federal Reserve, though it also highlights cooling economic momentum.
Market participants will now look to upcoming data for further clues on the health of the economy.
Source: FXStreet Forex News