Weak GDP growth points to strained consumers, which is bad news for the economy if spending finally cracks.

• The economy grew slower than expected last quarter, mostly because of imports, thinner business inventories, and lower government spending.
• The big import drag came from tech companies buying huge amounts of AI chips, servers, and gear from overseas to build data centers — a sign of expansion, not weakness.
• Consumer spending actually sped up, but people are spending faster than their income is growing, so the money is coming out of savings.
• The savings rate fell to just 2.7%, a warning sign since savings run out eventually.
• Government spending fell not from discipline but because agencies are running low on money.

Outlook: If incomes don't pick up soon, strapped consumers may finally cut back — and that would hit the economy harder than any of the other weak spots.