Economy grew 2nd Quarter

US Economy Surges 3 Percent in 2nd Quarter, Tops Market Estimates

‘Early signs for the third quarter are pointing up,’ said one bank’s chief economist

Economists had penciled in a 2.4 percent expansion.

This growth, reported by the Commerce Department, exceeded economists' expectations and marked a significant turnaround from the first quarter's 0.5% decline.

The growth was partly fueled by a decrease in imports, which are subtracted from GDP, after businesses front-loaded purchases in the first quarter ahead of tariffs.

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