U.S. Economy Revised Higher as Inflation and Uneven Growth Pressure Black and Minority-Owned Firms

WASHINGTON - Rezul -- The U.S. economy grew faster during the second quarter of 2026 than previously estimated, but newly released federal data also show that inflation remains elevated and economic gains continue to vary substantially across industries and regions.

The U.S. Bureau of Economic Analysis reported that real gross domestic product increased at a 2.2% annual rate in the second quarter of 2026, up sharply from the prior estimate of 1.5%. First-quarter GDP was also revised upward to 2.5%. The second-quarter revision primarily reflected stronger estimates for investment, consumer spending and government spending.

Separate BEA data showed that the Personal Consumption Expenditures Price Index increased 3.4% in August from a year earlier, while core PCE inflation, excluding food and energy, increased 3.0%. On a monthly basis, headline PCE prices rose 0.3%.

AI and Data-Center Investment Present a Major Minority-Business Opportunity

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BEA specifically identified data centers as an important contributor to the upward revision in commercial and health-care construction. This reinforces the growing economic importance of artificial intelligence infrastructure and the need to ensure that Black and minority-owned companies participate in that investment cycle.

Corporate Profits Rise Sharply

The BEA also reported that profits from current production increased by $384 billion during the second quarter. The sharp increase in corporate profitability should prompt major companies to expand rather than reduce opportunities for minority suppliers.

"Corporate profitability and minority-business participation should not move in opposite directions," Cunningham said. "When large corporations are generating hundreds of billions of dollars in additional profits, there is a strong economic case for increasing supplier opportunities, accelerating payments to small vendors and investing in the capacity of minority-owned businesses."

Both GDP growth and corporate profitability would have been stronger absent policies that constrained diversity initiatives, minority-business participation and immigration.

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The broader retreat from DEI and supplier-diversity programs risks reducing competition, limiting the pool of qualified suppliers and excluding productive Black, minority and immigrant-owned businesses from contracting and investment opportunities.

At the same time, cautious is appropriate when interpreting the newly reported 2.2% second-quarter GDP growth rate as definitive. BEA has already revised Q2 growth substantially—from 1.5% in the second estimate to 2.2% today—and the agency notes that GDP data are subsequently superseded as additional information becomes available.

Given the unusual magnitude of recent revisions and inconsistencies we continue to see across inflation, employment and other economic indicators, we believe the current GDP estimate should be treated cautiously and remain concerned that subsequent revisions could move the growth rate downward. See: https://www.impactinvesting.online/2026/09/gdp-revised-higher-but-economy-still.html