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

Why it matters locally: As a jurisdiction heavily reliant on federal government employment and spending, a slowdown in national economic growth could indirectly affect the District of Columbia's local economy through potential impacts on federal budgets and job stability.

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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.