Economics

Future of U.S. Growth on Consumers’ Shoulders in Replay of 2015

Americans’ spending drives GDP as business investment falters
Latest data raise hopes that expansion will keep on rolling

U.S. 2Q GDP Grew at 2.1%, Consumer Spending Tops Estimates

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By Katia Dmitrieva and Reade Pickert

July 26, 2019 at 12:30 PM UTC

Updated on

July 26, 2019 at 3:40 PM UTC

This article is for subscribers only.

They’ve carried the world’s largest economy through a tough patch before. History suggests American consumers could do it again.

Friday’s report on U.S. growth underscored how much the expansion -- which this month became the longest on record -- now largely relies on Americans staying happy and spending, while global weakness and President Donald Trump’s tariffs eat away at contributions from business investment.