The US Q2 GDP is worse than Q1 and the US consumption is no longer sustainable.

Let's break down the GDP to see what had changed from the previous quarter.

GDP growth = G + I + C + NE

NE=Export - Import

Q1 GDP (Final) = 0.74 + 1.35 + 0.37+ (-0.37) = 2.09 (2.1)

Q2 GDP (1st estimate) = (-0.14) + 0.53 + 2.12 + (-1.01) = 1.5

The Q2 GDP was worse than Q1 because 3 GDP components (G, I, NE) fell and only 1 GDP component (C) rose.

The US government cut its spending because it was low in budget.  The investment fell because of the poor outlook and AI capex couldn't had dropped.  The consumption and import rose becausethe US consumers were frontloading their purchases due to the high inflation expectations caused by the Iran war.  The core inflation is still above 3% and is nowhere near the Fed target rate of 2%.

The frontloading purchases had caused the US saving rate to drop further to 2.7%.  Therefore, this kind of consumption is unsustainable due to the low saving rate.