S&P 500 Flat as U.S. GDP Falls Short of Forecasts
Tip Ranks·
- The S&P 500 remained nearly unchanged after the Bureau of Economic Analysis reported that U.S. second-quarter GDP grew at an annualized rate of 1.5 %, falling short of the 1.8 % forecast.
- Economic growth slowed from 2.1 % in the first quarter due to rising AI-related imports and lower government spending.
- Consumer spending grew by 3.4 %, up from the previous estimate of 3.2 %, providing a partial offset to these economic drags.
