Overview

• Revised U.S. data showed stronger consumer spending (1.6%) and a pickup in business investment, with final sales to private domestic purchasers rising to 1.9%.
• Trade swings were pivotal for the U.S. quarter as imports fell 29.8% after pre‑tariff stockpiling, leaving net exports to add nearly five percentage points to growth.
• U.S. inflation stayed near the Federal Reserve’s targets in Q2, with headline PCE at 2.0% and core at 2.5%, easing urgency for policy moves.
• U.S. real gross domestic income rose 4.8% and corporate profits rebounded; the BEA’s third Q2 estimate and annual revisions arrive Sept. 25.
• India’s April–June GDP expanded 7.8% with broad-based gains in services, manufacturing and construction, as GVA rose 7.6%, though economists flag new U.S. tariffs of up to 50% as a near-term risk to exports.