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U.S. Economy Grew at a 3% Rate in Q2, a Better-Than-Expected Pace

Tiger Newspress07-30

The U.S. economy grew at a much better than expected pace in the second quarter, powered by a turnaround in exports and renewed consumer strength, the Commerce Department reported Wednesday.

Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April-through-June period, according to figures adjusted for seasonality and inflation.

That topped the estimate of 2.4% and helped reverse a decline of 0.5% for the first quarter that came largely due to a surge imports, which subtract from the total, as well as a weak consumer spending amid tariff concerns.

The period reported Wednesday includes President Donald Trump’s April 2 “liberation day” tariff announcement. Imports had jumped in the first quarters as companies sought to get ahead of the announcement.

Over the past three months, Trump has been engaged in multiple rounds of saber rattling and often intense negotiations with U.S. trading partners that have jangled nerves but nonetheless coincided with a subdued but solid pace of economic growth.

The talks have largely resulted in tariffs well above where they were at the beginning of the year but not as severe as initially proposed.

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Comment（4）

  • jerrying
    ·07-31
    This is the end Hold your breath and count to ten Feel the Earth move and then Hear my heart burst again For this is the end I've drowned and dreamt this moment So overdue, I owe them Swept away, I'm stolen Let the sky fall When it crumbles We will stand tall Face it all together Let the sky fall When it crumbles We will stand tall Face it all together At Skyfall At Skyfall Skyfall is where we start A thousand miles and poles apart Where worlds collide and days are dark You may have my number, you can take my name But you'll never have my heart Let the sky fall (let the sky fall) When it crumbles (when it crumbles) We will stand tall (we will stand tall) Face it all together Let the sky fall (let the sky fall) When it crumbles (when it crumbles) We will stand tall (we will stand tall) Face
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  • jerrying
    ·07-31
    This is the end Hold your breath and count to ten Feel the Earth move and then Hear my heart burst again For this is the end I've drowned and dreamt this moment So overdue, I owe them Swept away, I'm stolen Let the sky fall When it crumbles We will stand tall Face it all together Let the sky fall When it crumbles We will stand tall Face it all together At Skyfall At Skyfall Skyfall is where we start A thousand miles and poles apart Where worlds collide and days are dark You may have my number, you can take my name But you'll never have my heart Let the sky fall (let the sky fall) When it crumbles (when it crumbles) We will stand tall (we will stand tall) Face it all together Let the sky fall (let the sky fall) When it crumbles (when it crumbles) We will stand tall (we will stand tall) Face
    Reply
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  • Kerop
    ·07-30
    Economy is still growing only because companies are still absorbing the cost of tariffs instead of passing it on to consumers. But for how long can they continue to do so?
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  • jerrying
    ·07-30
    isit bullish news enough for stocks to rise again?
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