A surprising slowdown in the U.S. economy. Here’s what’s going on.

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• 00:04

  Good morning.

• 00:05

  The US economy sees a surprise slowdown.

• 00:08

  Axios gets behind the numbers, which paint a complicated picture.

• 00:12

  Trump's battles with his own party intensify as Senate holdouts block a key ally from confirmation.

• 00:18

  Semafor talks through the divisions.

• 00:20

  The President's kind of lost his grip over the Senate

• 00:22

  and there's not a ton that John Thune can do about it at this point.

• 00:27

  And Ben Affleck delivers a million-dollar game show performance.

• 00:31

  It's Friday, July 31st.

• 00:32

  I'm Gideon Resnick in for Shumita Basu.

• 00:34

  This is Apple News Today.

• 00:45

  US economic growth slowed a little in recent months, surprising economists.

• 00:49

  GDP between April and June grew at an annual rate of 1.5%.

• 00:54

  That's compared with 2.1% from the three months before that.

• 00:57

  Courtney Brown is a senior economics reporter at Axios who's been looking into the Commerce Department's numbers.

• 01:03

  She told us that in reality they were a bit better than they looked.

• 01:06

  "So look under the hood of the GDP report and you see that underlying growth was actually super strong."

• 01:13

  "And what the headline figure that's kind of 'meh' is showing is basically distortions in trade

• 01:20

  and swings in businesses piling up their inventories,

• 01:24

  things that are a drag on GDP but don't ultimately say anything about the health of the economy."

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