AI Data Insight
In Q2 2026, the contribution of goods consumption within US Personal Consumption Expenditures (PCE) to GDP quarter-over-quarter growth reached 1.08%, a massive jump from -0.03% in the previous quarter. Although overall Q2 GDP growth slowed to 1.5%, missing market expectations, strong underlying private consumption offset the drags from trade and inventories. Looking ahead, attention should be paid to the potential squeeze on end-consumer spending posed by geopolitically driven oil price hikes and tariff policies.