THE US ECONOMY GREW 3.3%

S

Sir Richard Spirit

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:jbhmm:



Remember.. you can HATE Trump and STILL benefit from this economy. Wait until these rates start dropping:wow:



The U.S. economy grew at a pace that was faster than expected in the second quarter as consumers and businesses held up against tariff volatility.

Gross domestic product rose at a 3.3% annualized pace in the April-through-June period, the Commerce Department reported Thursday in its second estimate for the most encompassing measure of economic activity. The reading was better than an initial 3.0% estimate as well as the 3.1% Dow Jones consensus forecast.




Consumer spending, which rose by 1.6% compared with an initial 1.4% estimate, helped push the number higher.

Importantly, a measure called final sales to private domestic purchasers jumped 1.9%, up from the previous figure of 1.2%. Federal Reserve officials watch that metric closely as an indication of demand and sales that focuses on activity within U.S. borders, an especially important measure considering the uncertain impact of President Donald Trump’s tariffs.

The GDP number also reflected the unusual impact of the tariffs as they related to trade numbers.

Imports, which subtract from GDP, tumbled 29.8% in the quarter after companies stockpiled ahead of Trump’s April 2 “liberation day” announcement. The figure was a bit less than the previous estimate of 30.3%.

At the same time, exports, which add to GDP, fell by 1.3%, compared with the previous estimate of -1.8%. Taking the figures together, net exports added nearly 5 percentage points to the Q2 total.




For the first half of the year, GDP has grown about 2.1%, or an average of a little more than 1% per quarter. The economy contracted 0.5% in the first quarter, largely due to the impact of the import rush.

“The good news is consumption came in higher than previously thought. Americans are continuing to spend despite the tariffs and uncertainty, albeit at a slower pace than past years,” said Heather Long, chief economist at Navy Federal Credit Union. “Going forward, the economy is likely to stay in this slower speed mode with spending and growth around 1.5% as the tariffs become more visible to American consumers.”

Inflation-related estimates were little changed from the initial reading. Core personal consumption expenditures prices, which exclude the volatile food and energy categories, rose 2.5%, unchanged from the prior figure, while the headline PCE price index edged lower to 2%, in line with the Fed’s inflation goal.






I keep telling yalll.. not everyone is broke and struggling.. there are familees out here making smart decisions to stay ahead..401/403 are growing..


America will NEVER fall to China :mjlol:


As always: STAY OUT OF DEBT




@Samori Toure come tell us about that stagnation
 
Samori Toure

Samori Toure

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Sir Richard Spirit said:
:jbhmm:



Remember.. you can HATE Trump and STILL benefit from this economy. Wait until these rates start dropping:wow:



The U.S. economy grew at a pace that was faster than expected in the second quarter as consumers and businesses held up against tariff volatility.

Gross domestic product rose at a 3.3% annualized pace in the April-through-June period, the Commerce Department reported Thursday in its second estimate for the most encompassing measure of economic activity. The reading was better than an initial 3.0% estimate as well as the 3.1% Dow Jones consensus forecast.




Consumer spending, which rose by 1.6% compared with an initial 1.4% estimate, helped push the number higher.

Importantly, a measure called final sales to private domestic purchasers jumped 1.9%, up from the previous figure of 1.2%. Federal Reserve officials watch that metric closely as an indication of demand and sales that focuses on activity within U.S. borders, an especially important measure considering the uncertain impact of President Donald Trump’s tariffs.

The GDP number also reflected the unusual impact of the tariffs as they related to trade numbers.

Imports, which subtract from GDP, tumbled 29.8% in the quarter after companies stockpiled ahead of Trump’s April 2 “liberation day” announcement. The figure was a bit less than the previous estimate of 30.3%.

At the same time, exports, which add to GDP, fell by 1.3%, compared with the previous estimate of -1.8%. Taking the figures together, net exports added nearly 5 percentage points to the Q2 total.




For the first half of the year, GDP has grown about 2.1%, or an average of a little more than 1% per quarter. The economy contracted 0.5% in the first quarter, largely due to the impact of the import rush.

“The good news is consumption came in higher than previously thought. Americans are continuing to spend despite the tariffs and uncertainty, albeit at a slower pace than past years,” said Heather Long, chief economist at Navy Federal Credit Union. “Going forward, the economy is likely to stay in this slower speed mode with spending and growth around 1.5% as the tariffs become more visible to American consumers.”

Inflation-related estimates were little changed from the initial reading. Core personal consumption expenditures prices, which exclude the volatile food and energy categories, rose 2.5%, unchanged from the prior figure, while the headline PCE price index edged lower to 2%, in line with the Fed’s inflation goal.






I keep telling yalll.. not everyone is broke and struggling.. there are familees out here making smart decisions to stay ahead..401/403 are growing..


America will NEVER fall to China :mjlol:


As always: STAY OUT OF DEBT




@Samori Toure come tell us about that stagnation
Click to expand...

"The Commerce Department reported." :russ:

You have to be the goofiest dude on this board. Any Department that Trump controls is cooking the books. And you best damn believe that the unemployment rate and inflation will both be 0.0% the next time they come out.

 
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Fillerguy

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Luke Cage said:
Damn, suddenly after he fired everyone responsible for reporting the numbers, They are growing again.
Click to expand...
I wouldn't day that entirely. This report is more less saying the economy rebounded from the second qtr contraction. And tariffs haven’t stopped consumers from spending. Which is true but there are reasons.

1. This report is focused entirely on business and consumer spending. 🥕 keeps flipflopping on tariffs so of course they haven't directly affect our spending habits yet. Our economy is growing, slowly.

2. The earlier contraction in the year were entirely man made via 🥕🤡 tariff threats. Also, business were importing in droves to stock up but that appears to have slowed because 🥕 is volatile and you can't plan for volatility.

3. The report shows private investment and government spending have dropped for a consecutive qtr. To covid levels. This is alarming since we don't have stay at home excuses to explain this. Low private investment is a sign of low job creation and in the AI age this is a problem.

Low job creation + low job creation = economic stagnation. And that's ignoring business importing/exporting getting hit these tariffs start sticking. A recession is around the corner but some of us are already experiencing this.
 
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