US Economy Grows 2% Despite Iran War Oil Shock, But Risks Loom

While rising energy prices did dampen growth somewhat, private investment, consumer spending, and government expenditures remained relatively strong during the period.“On net it’s a solid number. Consumer spending has held up,” said Jason Draho, head of asset allocation for the Americas at UBS. However, he cautioned that this strength “could be fully offset” if higher energy prices persist for the next six months.