U.S. economy slowed in second quarter as Iran war weighs on growth

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July 30, 2026 / 8:42 AM EDT / CBS News

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The nation's gross domestic product grew at an annual rate 1.5% in the second quarter, the Commerce Department said Thursday, weaker than economists expected and a sign the Iran war is hurting growth.

Economists polled by Reuters predicted GDP would rise at an annualized rate of 2.1% for April to June. GDP measures the total value of goods and services produced in the U.S. 

— This is a developing story and will be updated

Edited by Alain Sherter

In:

• Iran
• Inflation
• Gross Domestic Product