U.S. economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate

The U.S. economy expanded at a sluggish 1.5% annual pace during the second quarter, covering the period from April through June, according to government data. This growth rate matched earlier economic estimates and marked a deceleration from the 2.1% pace recorded in the first quarter, which spanned from January through March.

Despite the slower overall growth in the nation's gross domestic product—defined as the total output of goods and services—consumer spending remained strong throughout the second quarter, providing underlying support to the economy.