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ABC News (US)
· collected 2026-09-30 · by PAUL WISEMAN AP economics writer
The U.S. economy grew at a rate of 2.2% in the second quarter, according to the Commerce Department's latest estimate, which revised up from an initial projection of 1.5%. Consumer spending increased significantly by 3.8%, while business investment excluding housing rose by 9%, driven largely by investments in artificial intelligence. The growth was partially offset by a rise in imports, which subtracted nearly 1.7 percentage points from the overall GDP growth due to an increase in computer chip shipments and other AI-related products.
Written locally by qwen2.5:14b on 2026-09-30,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
The U.S. economy grew by 2.2% in the second quarter from April through June, according to a report by the Commerce Department, which revised its earlier estimate of 1.5% upward. Consumer spending increased at a healthy 3.8% annual pace, up significantly from the 0.7% recorded in the first quarter. Despite strong consumer and business investment growth, imports rose sharply at a 12.6% annual pace, which reduced GDP by nearly 1.7 percentage points due to high shipments of computer chips and products supporting artificial intelligence investments.
Written for “US Economic Growth Update” on 2026-10-05,
grounded in this article and the 0 other(s) covering the same event.
US economy grew 2.2% in the second quarter, govt says, upgrading previous estimate
asserted
govt → grow → estimate
The U.S. economy grew at a solid 2.2% pace from April through June as consumer spending and business investment came in strong
WASHINGTON --
asserted
spending → grow → June
The U.S. economy grew at a solid 2.2% pace from April through June as consumer spending and business investment came in strong.
asserted
spending → grow → June
Growth in gross domestic product — the nation’s output of a goods and services — decelerated from a 2.5% pace from January through March, the Commerce Department reported Wednesday.
asserted
Department → decelerate → March
Consumer spending — which accounts for about 70% of U.S. economic activity — increased at a healthy 3.8% annual pace, up from 0.7% in the January-March period.
asserted
which → account → period
The overall growth number was dragged down by imports.
asserted
number → drag → imports
They are subtracted from growth because GDP is only supposed to count domestic production.
asserted
GDP → subtract → production
Imports rose at a 12.6% annual pace from April through June, partly due to a surge in shipments of computer chips and other products that support artificial intelligence investment, and slashed nearly 1.7 percentage points off second-quarter growth.
asserted
that → rise → growth
The U.S. economy has proven surprisingly resilient in the face of fighting with Iran and the energy price spike it caused.
asserted
it → prove → Iran
Business investment, excluding housing, rose at a 9% clip in the second quarter, reflecting the AI investment boom.
asserted
investment → exclude → boom
And a measure of the economy’s underlying strength — which strips out volatile government spending and trade numbers — grew at a strong 4.6% rate, up from 1.8% in the first quarter.
asserted
which → underlie → quarter
Investment in housing rose 2.8% ticking up for the first time since the end of 2024.
asserted
Investment → rise → 2024
The housing market has been depressed by high mortgage rates.
asserted
market → depress → rates
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