US economy cools to 1.5% as AI imports drag on growth
AP put the hit from imports at 1.5 percentage points.
CNN, citing Commerce Department data, said the trade deficit jumped 42.2 percent to a seasonally adjusted US$77.6bn in May, the highest in nearly a year.
Inflation stayed well above target.
The personal consumption expenditures price index rose 3.7 percent in June from a year earlier, down from 4.1 percent in May, per the BEA, while core PCE, which excludes food and energy, eased to 3.3 percent from 3.4 percent.
The June relief partly reflected falling energy costs, with gasoline down 9.2 percent amid a lull in the Middle East conflict, CNBC reported.
