Overview

• The Bureau of Economic Analysis lifted its second-quarter estimate to a 3.3% annualized pace, up from 3.0%.
• Consumer spending was revised to 1.6%, and real final sales to private domestic purchasers rose to 1.9%, signaling firmer underlying demand.
• Imports fell 29.8% after Q1 front‑loading ahead of tariffs, with net exports adding nearly 5 percentage points to growth as exports slipped 1.3%.
• Business investment was marked up, including the fastest advance in intellectual property products in four years and stronger equipment outlays tied in part to AI.
• The PCE price index ran at 2.0% with core at 2.5%, investors boosted odds of a September Fed rate cut, and GDI jumped 4.8% as corporate profits rebounded; the final Q2 estimate arrives Sept. 25.