Source: Bloomberg
“US economic activity rebounded in the second quarter on a modest pickup in consumer spending and a marked drop in imports after a scramble to secure foreign goods earlier in the year. Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased an annualized 3% after shrinking at a 0.5% rate in the previous period, according to preliminary government data out Wednesday. Net exports added 5 percentage points to GDP after subtracting the most on record in the first three months of the year, the Bureau of Economic Analysis report showed. Goods and services that aren’t produced in the US are subtracted from the GDP calculation but counted when consumed.” (07/30/25)