US GDP Grows Only 1.5% in Q2, Missing Estimates Despite Strong Consumer Spending and AI Investment

NewsData.io · United States · Jul 30, 2026

U.S. GDP rose just 1.5% in Q2, well below the 2.0% consensus estimate, as a surge in imports and inventory drawdowns offset solid consumer spending and booming business investment. Business investment grew at an 8.4% annual rate, driven heavily by AI-related capital expenditure and industrial equipment. Final sales to private domestic purchasers — a cleaner gauge of underlying demand — climbed 3.9%, the strongest pace since early 2023. With layoffs remaining limited, economists expect consumer spending to hold steady in the second half, though Middle East conflict and new tariffs introduce meaningful uncertainty for hiring demand.