U.S. Economic Growth Slows to 1.5% in Second Quarter

Why it matters locally: While no specific Virginia industry was singled out in the report, a slowdown in national economic growth at 1.5% could indirectly influence consumer spending and investment within Virginia, impacting various sectors across the state.

WASHINGTON – The U.S. economy grew at an annual rate of 1.5% during the second quarter, from April through June. This rate aligned with previous government estimates. Analysts observed that consumer spending maintained its strength throughout the quarter. Individuals continued to purchase goods and services, contributing to the economic activity recorded for the period.