US Economy Expands at Slowest Pace Since Q1

The US economy has reported sluggish growth in the second quarter of this year. According to the Commerce Department, the nation's output of goods and services expanded at a rate of 1.5% from April through June.

This is slower than the previous quarter, which saw a growth rate of 2.1%. The current figure also falls short of economists' expectations.

However, there are some positive signs in the report. Consumer spending, which accounts for about 70% of US economic activity, increased at an annual clip of 3.2%, up from 0.5% in the previous quarter.

The Federal Reserve's preferred measure of inflation also grew more slowly last month but remains above the central bank's 2% target.