The U.S. economy expanded at a 1.5 percent annual rate in the second quarter, falling short of the roughly 2 percent growth forecasted by economists, according to data released Thursday by the Commerce Department. The slowdown reflected a combination of rising consumer and business spending that was partially counterbalanced by a decline in government expenditures.

Despite the overall growth rate missing expectations, consumer spending remained robust, supported in part by larger-than-usual income tax refunds. The second quarter also benefited from increased activity linked to the World Cup soccer tournament, which attracted both American consumers and international visitors, providing a boost to discretionary spending.

Economists noted that while the pace of expansion decelerated, the economy showed signs of steady health. “It’s an economy that’s doing okay. It’s not overheating. It’s not underheating,” said Brian Bethune, an economics professor at Boston College. Other metrics reinforce this view, including real final sales to private domestic purchasers, which focus on underlying demand by households and businesses and strip out government spending and inventory fluctuations.

The slowdown was mainly driven by government spending, which declined during the quarter after providing momentum earlier in the year. Business investment and consumer purchases of goods and services increased, underscoring ongoing demand in the private sector.

While the growth rate disappointed some analysts, the mixed signals suggest the economy is maintaining a moderate, sustainable pace amid uncertainties in various sectors. The data reflect a complex balance between robust consumer activity buoyed by favorable tax policies and international events, and a pullback in government outlays that moderated overall economic expansion.