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US Q2 advance GDP +1.5% vs +2.1% expected

US Q2 GDP growth missed at +1.5% vs +2.1% expected; core PCE eased but headline inflation accelerated.

· Source: investinglive.com

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Summary

The advance Q2 GDP report showed real growth of 1.5%, significantly below the 2.1% forecast, marking a deceleration from Q1's 2.1%. Consumer spending surged 3.2% (vs 0.1% prior) and private final sales jumped to 3.9%, but government spending fell and exports decelerated, creating the shortfall. The inflation picture was mixed: core PCE cooled modestly to 3.4% Q/Q (vs 3.5% prior), but headline PCE accelerated to 5.1% (vs 4.6% prior) and the GDP deflator jumped to 6.3% (vs 3.9% expected), signaling persistent price pressures despite the growth miss.

HomeUS Q2 advance GDP +1.5% vs +2.1% expectedUS Q2 advance GDP +1.

5% vs +2.1% expectedNewsGiuseppe Dellamotta30/07/2026 | 12:48 GMTThe advance report for US Q2 GDP released by the Bureau of Economic Analysis - 30 July 2026Prior +2.1%GDP Q2 Consumer spending 3.

2% vs 0.5% priorGDP Q2 deflator 6.3% vs 3.

9% expectedPrior 3.6%GDP Q2 PCE prices Q/Q 5.1% vs 4.

6% priorGDP Q2 Core PCE price Q/Q 3.4% vs 3.5% expectedPrior 4.

4%The contributors to the increase in real GDP in the second quarter were increases in consumer spending, investment, and exports that were partly offset by a decrease in government spending. Imports, which are a subtraction in the calculation of GDP, increased.Compared to the first quarter, the deceleration in real GDP in the second quarter reflected a downturn in government spending and decelerations in investment and exports that were partly offset by an acceleration in consumer spending.

Imports increased more in the second quarter than in the first quarter.Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 3.9 percent in the second quarter, compared with an increase of 1.

7 percent in the first quarter.The price index for gross domestic purchases increased 5.7 percent in the second quarter, compared with an increase of 3.

6 percent in the first quarter. The personal consumption expenditures (PCE) price index increased 5.1 percent, compared with an increase of 4.

6 percent, and the PCE price index excluding food and energy increased 3.4 percent, compared with an increase of 4.4 percent.

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