Gross domestic product, which captures all the goods and services produced in the economy, registered an annualized rate of 3% in the April-through-June period, the Commerce Department said Wednesday. That’s up sharply from the -0.5% rate in the first quarter, which was the first quarterly GDP decline since 2022. Economists polled by data firm FactSet estimated second-quarter GDP to come in at a 2% rate.
The US economy expanded sharply in the second quarter as businesses dialed back on imports after stocking up earlier in the year to get ahead of President Donald Trump’s tariffs. But a look under the hood shows an economy that’s sputtering.
Bryan Mena | CNN.com