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

Why it matters locally: While the national growth rate reflects broad economic trends, a slowdown can indirectly affect Rhode Island's various sectors, potentially influencing consumer confidence and local business investment, particularly for small businesses that rely on stable economic conditions.

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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.