The Guardian Australia – Business
·business
·3 hours ago
US economic growth rebounds 2% as consumer spending slows amid Iran war
US gross domestic product accelerated 2% in the first quarter of 2026, rebounding from 0.5% growth last quarter, driven by government spending and AI investment. Consumer spending slowed 0.3% as the Iran war pushed oil prices to $126 per barrel and inflation expectations jumped from 3.8% to 4.7%. The defense department has requested $1.5 trillion in additional military spending.
Summary by Glance · The Guardian Australia – Business
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