June quarter GDP growth expected to stall as oil price surge bites
Economists forecast that the economy barely expanded in the June quarter, with growth estimated between 0.1% and 0.2% due to higher oil prices.
The upcoming GDP report is projected to show minimal growth for the June quarter, reflecting the drag from elevated oil prices. Analysts anticipate a rise of only 0.1% to 0.2%, marking a sharp slowdown. The surge in oil costs is expected to ripple through various sectors, dampening overall economic activity.
Why it matters
Weak growth signals that rising oil costs are curbing economic momentum, affecting consumers and businesses alike.
In this story
GDPJune quarteroil priceseconomic growthinflationenergy costsquarterly data
