U.S. GDP Growth Rebounds in First Quarter
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U.S. GDP grew at a 2 percent annualized rate in the first quarter of 2026, a significant rebound from the previous quarter's 0.5 percent but slightly below the expected 2.2 percent. The economic recovery is being tempered by elevated fuel prices due to the ongoing Iran War and the closure of the Strait of Hormuz. Brent crude oil prices remain high at $111 per barrel, and the average gas price has reached $4.30, the highest since 2022.
- ▪U.S. GDP grew at a 2% annualized rate in Q1 2026.
- ▪This is up from the previous quarter's 0.5% growth.
- ▪The Iran War and closure of the Strait of Hormuz have disrupted oil supply.
- ▪Brent crude oil prices are at $111 per barrel.
- ▪The average gas price is $4.30, the highest since 2022.
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Politics U.S. GDP Growth Rebounds in First Quarter State of the Union: GDP is up to 2 percent from 0.5 percent last quarter, but narrowly missed expectations. Credit: Olivier Douliery/Getty Images <div class="o-image__issue-wrapper"> <img class="o-image__image" srcset="https://tac.imgix.net/wp-content/uploads/2024/08/TAC_jaddinghs_final.jpg?auto=format&crop=faces%2Centropy&fit=crop&ixlib=php-3.3.1&w=32 32w, https://tac.imgix.net/wp-content/uploads/2024/08/TAC_jaddinghs_final.jpg?auto=format&crop=faces%2Centropy&fit=crop&ixlib=php-3.3.1&w=32 32w, https://tac.imgix.net/wp-content/uploads/2024/08/TAC_jaddinghs_final.jpg?auto=format&crop=faces%2Centropy&fit=crop&ixlib=php-3.3.1&w=32 32w,…
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