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

Why it matters locally: While the national economic slowdown to 1.5% might indicate a broader trend, North Carolina's diverse economy, including sectors like manufacturing, technology, and agriculture, will experience this growth rate within its unique state-specific context.

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.