- Gross domestic product jumped 3% for the second quarter, better than the 2.3% estimate and reversing a 0.5% decline in the prior period.
- Consumer spending rose 1.4% in the second quarter, better than the 0.5% in the prior period.
- While exports declined 1.8% during the period, imports fell 30.3%, reversing a 37.9% surge in Q1.
- President Donald Trump responded to the GDP report with a fresh demand for the Federal Reserve to lower interest rates.
The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance 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 Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid tariff concerns.
Source: https://www.cnbc.com/2025/07/30/gdp-q2-2025-.html