This story about the advance estimate of second-quarter GDP will be updated with further details.

U.S. economic growth slowed unexpectedly in the second quarter of the year, according to the Commerce Department’s advance estimate.

The Bureau of Economic Analysis (BEA) on Thursday released its advance estimate of second-quarter GDP, which showed the economy grew at an annualized rate of 1.5% in the three-month period including April, May and June. 

That figure was below the 2.1% growth estimate of economists polled by LSEG.

It comes after the U.S. economy grew at a rate of roughly 2.1% in the first-quarter of 2026. Last year, the U.S. economy grew at an annualized rate of 4.4% in the third quarter and 0.5% in the fourth quarter, which contributed to a growth rate of about 2.1% for 2025 as a whole.

The BEA reported that the main categories that contributed to the rise in real GDP in the second quarter were increases in consumer spending, investment and exports – which were partly offset by a decrease in government spending. Imports increased in the second quarter.

The increase in investment was primarily due to increases in equipment and intellectual property products. Equipment increases were widespread and led by industrial, transportation and information processing equipment, while the rise in intellectual property products was mainly related to software and research and development.

Those gains were partly offset by decreases in private inventory investment, particularly wholesale trade, and nonresidential manufacturing structures.

A revised estimate of second quarter GDP is scheduled to be released in late August, while the final revision will be published at the end of September.

Thangamayil Jewellery said that it saw no visible improvement in sales during the first 28 days of the second quarter of FY27. The company attributed this to continued uncertainty around the war and customer expectations of a moderate decline in international gold prices, which led to further postponement of purchases.

The company expects this deferred demand to return once the war and gold price situation improves. It remains hopeful of seeing a recovery in demand in the second half of FY27.

Thangamayil Jewellery reported same-store sales (SSS) growth of 44.4% for the three months ended June 30, 2026, compared with 72.3% growth on a quarter-on-quarter basis. The company said gold volumes were relatively lower during the quarter despite international gold prices being more benign compared with the previous quarter, when prices had remained elevated.

According to the company, the slowdown was primarily due to a steep increase in import duty from 6% to 15% from May 13, 2026, along with significant depreciation in the Indian rupee. These factors led customers to postpone purchases in anticipation of a future decline in gold prices in U.S. dollar terms.

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The uncertainty caused by the West Asia war also weighed on demand. The company said the resulting slowdown in gold purchases by expatriates, driven by lower inward remittances in the areas where it operates, further contributed to the sluggish offtake on a quarter-on-quarter basis.

Thangamyil Jewellery Q1 results

The company reported a net profit of Rs 85 crore for the first quarter of FY27, marking an 86% growth from Rs 45.7 crore posted in the same period last year.
The company’s revenue from operations jumped 71.2% in the June quarter to Rs 2,666.4 crore from Rs 1,558 crore posted in the corresponding quarter of the previous financial year.
Further, EBITDA (earnings before interest, tax, depreciation and amortization) rose 66.2% to Rs 144.6 crore from Rs 87 crore. Margins for the quarter under review stood at 5.4%, compared with 5.6% in the corresponding period last year.

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Country singer Megan Moroney ended her concert at Ball Arena in Denver early Tuesday night, stopping the show after just three songs due to illness and offering a tearful apology to fans in the hours that followed.

Moroney performed three songs, “Stupid,” “Medicine” and “Bless Your Heart,” before leaving the stage, according to Billboard and setlist-tracking site Setlist.fm. Before exiting, she told the crowd she was sorry and promised to make up for the cut-short performance, according to CBS affiliate KCNC. Fans began filing out of the arena around 9 p.m.

Ball Arena confirmed the cancellation in a statement posted to its official social media account shortly after the show ended. “Megan is unable to continue her performance this evening due to illness, and we must end the show at this time,” the venue wrote. “Please allow event staff to direct you to the nearest exit, and we will follow up with more information as soon as we’re able.”

Moroney offered a more personal explanation in a post to her own social media account later that night, describing the decision as one of the most difficult of her career. “Denver. That was the hardest decision I’ve ever had to make & I’m so sorry to cancel the show tonight,” she wrote. She went on to explain the reasoning behind stopping so early into the performance. “I never ever will give you guys a show that is not 100% and by song 3 I knew that I was not capable of giving that to you guys tonight.”

The singer described the emotional toll the decision took on her in the moments immediately following the show. “I’m typing this as I’m quite literally bawling my eyes out in my dressing room & it hurts me so much to disappoint you all,” she wrote.

Moroney is set to return to Denver on Aug. 27 to make up the canceled performance, according to Billboard, with tickets purchased for Tuesday’s show remaining valid for the rescheduled date. Fans unable to attend the rescheduled concert will be eligible for refunds, according to Fox affiliate KDVR.

The Denver stop was part of Moroney’s Cloud 9 tour, which has approximately two dozen additional shows scheduled across the United States and Europe in the months ahead. No additional tour dates had been announced as canceled or postponed as of Wednesday, suggesting the Denver stop was treated as an isolated interruption rather than the start of a broader pause in the tour schedule.

Moroney has built a rapidly growing profile within country music in recent years, known for songs blending sharp, conversational lyrics with contemporary country production. She performed at the 2026 NCAA March Madness Music Festival’s Capital One JamFest in Indianapolis earlier this year, part of a schedule of high-profile appearances that has accompanied the rising popularity of her music.

Concert cancellations due to illness have become an increasingly visible topic within the touring music industry in recent years, as artists face mounting scrutiny over the physical demands of extensive tour schedules that often involve travel across multiple cities and time zones in rapid succession. Performers across genres have periodically had to cut shows short or cancel performances entirely due to illness, vocal strain or exhaustion, with many artists, including Moroney in her Tuesday night statement, emphasizing a desire to avoid delivering a performance they view as falling short of what fans deserve rather than pushing through and risking a diminished show.

Moroney’s handling of the cancellation, including her direct, emotionally candid explanation to fans through social media, reflects a broader trend among contemporary musicians of communicating openly and immediately with audiences following unexpected show disruptions, rather than relying solely on official statements issued by tour promoters or venues. That approach has generally been well received by fans in similar situations involving other artists, who have often expressed appreciation for direct communication and transparency about the reasons behind a canceled or shortened performance.

As of Wednesday, Moroney had not provided additional public details about the specific nature of her illness beyond the general references made in her sitewide statement and the venue’s own announcement. Representatives for the singer had not issued any further public statement beyond the information already shared directly by Moroney and Ball Arena in the immediate aftermath of Tuesday night’s show.

With the rescheduled Denver date now set for Aug. 27 and the remainder of the Cloud 9 tour continuing as planned across the United States and Europe, fans who attended Tuesday’s shortened performance, along with those holding tickets for the makeup date, are expected to receive further updates directly from either Moroney’s team or Ball Arena as additional details about the rescheduled show become available in the coming weeks.