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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUS economy grows at 3% in Q2, rebounding from first pullback in 3 years
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

BoRaGard
(6,604 posts)Would you buy a used doughnut from a republicon?
NCDem47
(2,926 posts)*** if you're white, straight, Christian, and affluent
LisaL
(47,301 posts)
OrlandoDem2
(3,058 posts)Greg_In_SF
(424 posts)news outlet is confirming the numbers...CNBC, Bloomberg, Barron's, Yahoo Finance, Investor's Business Daily, etc.
They were all predicting 1.5 - 2.0.
W_HAMILTON
(9,388 posts)They aren't """confirming the numbers""" -- they are just reporting them. These outlets aren't going through and running the calculations to back up what the Trump administration claims. As you said yourself, they were predicting 1.5% to 2.0% -- but the Trump administration said it was 3.0%, and that is what they reported.
Given the outright lying that Trump and his administration were known for BEFORE he and his MAGAt buddies went through and cleaned house of all non-Trump loyalists they could find, it shouldn't come as a surprise that people are suspicious of these numbers. But ultimately, it doesn't matter, because the people themselves will decide whether they are happy with the Trump economy, and all signs point to the fact that they are NOT happy -- justifiably so, I would say.
Greg_In_SF
(424 posts)you understand how The Commerce Department works.
W_HAMILTON
(9,388 posts)Do you trust Patel's FBI?
Bondi's DOJ?
Kennedy, Jr.'s HHS?
Gabbard's NSC?
I damn sure would hope not.
But you trust the guy that oversees the agency responsible for reporting GDP data even though he said there was "no chance" of a recession due to Trump's economic policies.
As I said, we are at the point where the propaganda meets the road, so to speak. Americans are now finally feeling the effects of the Trump economy and they ain't liking it.
moondust
(20,961 posts)Ron Insana told Stephanie Ruhle tonight that we may be looking at stagflation ahead.
edhopper
(36,417 posts)is measured against imports. So when TSF's tariffs, caused a 15% drop in imports, the GDP appeared to be higher. Internal numbers are not good.
uponit7771
(93,113 posts)... imports last quarter made GDP fall.
- Negative corp spending outside of AI data centers
- consumer spend fall YoY, better than last quarter
- QoQ exports **FELL**
NONE of this is extra good news for economy that Trump continues to be unstable with.