The U.S. economy bounced back this spring from a first-quarter slump that came in response to global trade turmoil, according to the Associated Press.
The Commerce Department on Thursday upgraded its first estimate, reporting that U.S. gross domestic product expanded at a 3.3% annual pace from April-June after contracting 0.5% in 2025’s first quarter.
The department’s initial second-quarter estimate was 3%.
The first quarter’s GDP drop — the U.S. economy’s first retreat in three years — was spurred mainly by a surge in imports as businesses sought to bring in foreign goods ahead of President Donald Trump’s tariffs.
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The trend reversed in the second quarter, with imports falling at a 29.8% pace and boosting April-June growth.
