NEW YORK, NEW YORK - JULY 30: People walk through a shopping district on July 30, 2026 in the Quensborough of New York City. The Commerce Department reported on Thursday that the U.S. economy only expanded at a 1.5% pace from April through June, as inflation from the war with Iran continues to weigh on the economy. Consumer spending, which accounts for 70% of U.S. economic activity, increased at a 3.2% pace. (Photo by Spencer Platt/Getty Images)