While the GDP number was below expectations, the miss appeared to come from a decline in federal government spending and inventories.

The U.S. economy grew at an annual rate of 1.5% in the spring, according to the Commerce Department. That's a modest slowdown from the previous quarter — but consumer spending…

Second-quarter U.S. economic growth dramatically missed estimates. Inflation-adjusted gross domestic product grew at an annual rate of 1.5% over the three months that ended in…