U.S. Economy Sees Modest Growth, Consumer Spending Increases in Spring Quarter

Why it matters locally: The reported national economic trends, particularly consumer spending, directly influence the economic climate in Wisconsin, impacting local businesses and household budgets across the state. While specific growth figures for Wisconsin aren't detailed here, the national trend provides context for state-level economic activity.

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Washington, D.C. — The U.S. economy experienced an annual growth rate of 1.5% during the spring quarter, the Commerce Department announced. This figure indicates a modest deceleration compared to the economic growth observed in the preceding three-month period. While the overall growth rate slowed, consumer spending intensified during April, May, and June. Americans continued their purchasing activities, contributing to the economic expansion. Joe Raedle captured an image depicting consumer spending that continued to support the U.S. economy.