AI Data Insight
In the second quarter of 2026, the annualized quarter-over-quarter growth rate of US nominal personal consumption expenditures (PCE) on nondurable goods jumped to 10.1%, significantly higher than the 4.7% in the first quarter. Although overall Q2 economic growth cooled to 1.5%, nominal spending on nondurable goods expanded substantially, driven by high oil prices triggered by Middle East geopolitics and demand for prescription drugs. Going forward, attention must be paid to whether energy inflation will further erode people's real purchasing power and savings.