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The US second-quarter economic rebound exceeded expectations, but the overall trend still shows a slight slowdown.
BlockBeats News, July 30th: In the second quarter, the U.S. GDP growth exceeded expectations, rebounding from the earlier decline due to trade conflicts at the beginning of the year. However, despite this, the overall trend of economic growth still showed a slight slowdown, compared to the lower levels of recent years. Data shows that excluding inflation, the initial estimate of the U.S. second-quarter real GDP annualized growth was 3%, surpassing expectations.
Compared to the -0.5% in the first quarter, the growth in the second quarter constituted a significant rebound. At the beginning of the year, U.S. businesses imported a large amount of goods in advance to avoid the policy of President Trump's tariff increase, leading to a sharp increase in imports in the first quarter, which significantly dragged down that quarter's GDP growth.
However, in the following three months, this trend has reversed. President Trump's aggressive tariff measures announced on April 2nd initially did not have as severe an actual impact on businesses and consumers as expected, but instead spurred the recovery of economic data. (FXStreet)
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