US GDP Growth Slows to 1.5% in Q2 2026

US economic growth slowed to 1.5% in the second quarter of 2026, down from 2.1% in Q1, driven by a widening trade deficit and rising petrol prices. Tariffs and oil price spikes created a supply shock, while imports surged on AI-related investment. Consumer spending remained resilient but was concentrated among high-income earners, signaling a K-shaped recovery. Petrol prices hit $4.48 per gallon in May before easing.