The U.S. economy expanded at an annualized pace of 1.5% in the second quarter, the Commerce Department reported on Wednesday, confirming the initial estimate and aligning with economists' projections.
Growth in the world's largest economy slowed from a revised 2.1% expansion in the first quarter, reflecting moderating economic activity. The data, released in Washington, follows the government's second estimate of second-quarter gross domestic product (GDP).
U.S. GDP figures are reported on an annualized basis, a methodology that differs from European practices, where quarterly growth rates are presented without annualization. To approximate a comparable metric, the annualized U.S. rate would be divided by four. The Commerce Department's second estimate incorporates additional data and methodological adjustments, providing a more refined view of economic performance.
The report underscores a gradual cooling in U.S. economic momentum, though the pace remains positive. Analysts will monitor incoming data for signs of further deceleration or stabilization in the coming quarters.
