US economy grows sluggish 1.5% in second quarter as inflation tops Fed target

The US economy expanded at a sluggish 1.5% pace from April through June due to rising imports, but consumer spending rose.

The Federal Reserve's favored measure of inflation grew more slowly last month despite remaining above the central bank's 2% target.

The Commerce Department reported that growth in us gross domestic product (GDP) decelerated from 2.1% in the first three months of 2026 and came in below economists' expectations.

The Commerce Department also said that its personal consumption expenditures (PCE) price index, the measure of inflation favored by the Fed, rose 3.7% last month from June 2025, down from a 4.1% Year-Over-Year increase in May. Excluding volatile food and energy prices, so-called core consumer prices were up 3.3% from a year earlier.

The us economy expanded at a sluggish 1.5% pace from April through June as rising imports weighed on growth.

Despite holding rates, analysts worry that Chairman Kevin Warsh is unwilling to deliver a rate hike to control inflation. With the added impetus of higher oil prices, the U.S. 30-year Treasury yield hit a 19-Year high.

U.S. stock futures rose in early European trade, as markets stabilized after reacting sharply to the Federal Reserve's rate meeting on Wednesday.

Reference Sources

1. theguardian - US economy grows sluggish 1.5% in second quarter as inflation tops Fed target
2. cnbc - U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3%
3. bloomberg - Kevin Warsh’s Approach to Fed Policy Is Deeply Flawed
4. wsj - U.S. Stock Futures Steady Amid Inflation Fears
5. cnbc - Warsh's inflation problem, Meta's weak guidance, Chipotle earnings and more in Morning Squawk

China’s Unitree Robotics sets August 10 subscription for Shanghai IPO, moving a step closer to listing

China's Unitree Robotics plans to open Subscriptions for an initial public offering (IPO) on Shanghai's Star Market on August 10, after the company's IPO application was approved for registration by the China Securities Regulatory Commission (CSRC).

The company plans to issue 40.446 million shares, accounting for 10% of its total shares after the offering, which will bring its total share capital to 404.464 million shares.

The preliminary inquiry date is set for August 5, while the Online and Offline subscription date is scheduled for August 10.

Commenting on Unitree Robotics' IPO, veteran tech industry analyst Liu Dingding said the company is one of the most valuable players in this field, as it represents a combination of multiple high-value sectors, including precision manufacturing, robotics, artificial intelligence and other cutting-edge technologies. After its listing, the company is highly likely to see its stock surge, with its market capitalization expected to exceed a hundred billion yuan in the short term, Liu estimated.

The IPO progress of hard-tech companies reflects stronger capital market support for Tech innovation enterprises, helping them boost R&D, expand scale and accelerate commercialization.

Reference Sources

1. globaltimes - China’s Unitree Robotics sets August 10 subscription for Shanghai IPO, moving a step closer to listing

Google Unveils Gemini AI for Robots Struggling With Dexterity

Google DeepMind has unveiled a new artificial intelligence (AI) model for robots that allows Humanoid machines to coordinate movements across their entire bodies, marking its latest effort to extend its GEMINI AI technology to allow robots to reason, plan Multi-Step tasks, and adapt to human environments.

The new system, GEMINI Robotics 2, enables robots to walk, crouch, and manipulate objects while reasoning through tasks. Unlike the previous model, which primarily controlled a robot’s upper body, the company said GEMINI Robotics 2 can direct an entire Humanoid from top to bottom.

The announcement builds on Google’s 2025 debut of GEMINI Robotics, a version of its flagship GEMINI AI model that was capable of translating language and visual information into Robotic actions.

Google rivals OpenAI and Nvidia are also developing AI models and software for robots.

OpenAI has explored general-purpose robot foundation models that combine vision, language, and action, while Nvidia provides software that helps developers train Ai-Powered robots. In a Pre-Taped demonstration for reporters on Tuesday, DeepMind’s new AI model controlled Apptronik ’ s Apollo Humanoid robot as it walked across a room, picked up a watering can and placed it on a lower shelf, all while navigating around obstacles.

Reference Sources

1. bloomberg - Google Unveils Gemini AI for Robots Struggling With Dexterity

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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