Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
US economy grows at 3% in Q2, rebounding from first pullback in 3 years [View all]
US economic growth rebounded in the second quarter after contracting for the first time in three years to start 2025.
Gross domestic product grew at annualized pace of 3% in the second quarter, according to the Bureau of Economic Analysis' advance estimate. Economists surveyed by Bloomberg had expected a 2.6% increase.
The reading comes after a large surge in imports ahead of President Trump's tariff whipsaw caused GDP to contract by 0.5% in the first quarter. The BEA noted that the second quarter bounce back reflected a a decrease in imports, which are a subtraction in the calculation of GDP.
Wednesday's GDP data covers the months of April through June, meaning it reflects activity during first three months that the widest swath of Trump's tariffs were in place. It does not, however, reflect recent tariff updates from July.
Gross domestic product grew at annualized pace of 3% in the second quarter, according to the Bureau of Economic Analysis' advance estimate. Economists surveyed by Bloomberg had expected a 2.6% increase.
The reading comes after a large surge in imports ahead of President Trump's tariff whipsaw caused GDP to contract by 0.5% in the first quarter. The BEA noted that the second quarter bounce back reflected a a decrease in imports, which are a subtraction in the calculation of GDP.
Wednesday's GDP data covers the months of April through June, meaning it reflects activity during first three months that the widest swath of Trump's tariffs were in place. It does not, however, reflect recent tariff updates from July.
https://www.yahoo.com/finance/news/us-economy-grows-at-3-in-q2-rebounding-from-first-pullback-in-3-years-123438673.html
13 replies
= new reply since forum marked as read
= new reply since forum marked as read