The US economy experienced sluggish growth from April through June, with a pace of 1.5%. This growth rate is a decrease from the 2.1% pace seen from January through March. Despite the slow overall growth, consumer spending remained strong, increasing at a 3.4% annual rate. This accounts for a significant portion of the country's economic activity, around 70%.
The main factor contributing to the lackluster growth was an increase in imports, which rose at a 12.5% annual pace. Imports are subtracted from growth calculations as they are not part of domestic production.
Further details on the economy's performance are available from the Commerce Department's report.
