Overview

• BEA’s second estimate lifts Q2 GDP to a 3.3% annualized pace from 3.0%, reflecting stronger consumer spending and business investment.
• Imports fell 29.8% after Q1 front‑loading ahead of tariffs, and net exports contributed nearly five percentage points to Q2 growth.
• Underlying domestic demand improved as real final sales to private domestic purchasers were revised up to a 1.9% rate.
• PCE inflation ran at 2.0% with core at 2.5%, while gross domestic income rose 4.8% and corporate profits rebounded by $65.5 billion.
• Companies report higher tariff costs and many economists see slower growth in the second half of 2025, with a final Q2 GDP update due Sept. 25.