US economy grew 2.2% in the second quarter, govt says, upgrading previous estimate
Summary
The U.S. economy grew by 2.2% in the second quarter of 2026, an increase from the earlier estimate of 1.5%. Strong consumer spending and business investments, especially in artificial intelligence, helped boost economic growth.Key Facts
- The economy grew at a 2.2% annual rate from April to June 2026.
- This growth rate is a bit slower than the 2.5% growth in the first quarter of 2026.
- Consumer spending, which makes up about 70% of the economy, rose by 3.8% in the second quarter.
- Imports increased sharply by 12.6%, reducing the GDP growth by about 1.7 percentage points because GDP counts only goods and services made within the U.S.
- Business investment, excluding housing, grew 9%, driven by spending on artificial intelligence technologies.
- Housing investment rose 2.8%, marking the first increase since late 2024, despite high mortgage rates.
- A measure that excludes government spending and trade changes showed the economy growing strongly at 4.6%.
- The first official estimate of third-quarter growth will be released on October 29, 2026.
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