US economy posts 2.2% Q2 2026 growth led by consumers
Business
The US economy picked up speed in the second quarter of 2026, growing at a 2.2% annual rate, much better than the earlier estimate of 1.5%.
Most of this boost came from people spending more on goods and services, with consumer spending jumping by 3.8%, a big leap from just 0.7% last quarter.
AI spending lifts business investment 9%
Growth got held back a bit by a surge in imports, especially computer chips, which shaved off about 1.7% points from GDP gains.
On the bright side, businesses poured money into artificial intelligence, driving business investment up by 9%.
Housing investment even rose for the first time since the end of 2024, showing some resilience despite global energy market challenges.
The next update on how the economy's doing comes out October 29.