Overview

• Commerce Department data show second‑quarter GDP was revised up to a 3.3% annualized pace from the initial 3.0% estimate.
• Imports plunged 29.8%, helping net exports add nearly five percentage points to growth as tariff‑related front‑loading unwound from the prior quarter.
• Consumer spending grew at a 1.6% rate, a firmer reading than first reported and a sign of steady household demand.
• Private business investment fell 13.8%, the largest quarterly decline since Q2 2020, pointing to weakness in capital outlays.
• Federal spending contracted at a 4.7% annualized rate, while final sales to private purchasers rose 1.9%, a demand gauge closely watched by the Federal Reserve.