Key facts
- U.S. GDP grew at a 1.5% annual rate in the second quarter.
- Geopolitical events affecting energy prices and supply chains contributed to the slowdown.
- June core inflation stood at 3.3%.
The U.S. economy experienced a slowdown in the second quarter, with gross domestic product expanding at a 1.5 percent annual rate. This deceleration was partly influenced by geopolitical events in the Middle East, which disrupted energy prices and global supply chains. Concurrently, June's core inflation rate was reported at 3.3%.