Overview

• The annualized 3.8% pace equals a 0.9% quarter‑over‑quarter increase for April through June.
• The Bureau of Economic Analysis lifted growth from prior estimates of 3.3% and 3.0% as more complete data came in.
• Consumer spending grew at a 2.5% annualized rate, while imports fell roughly 29%, boosting the net trade contribution.
• Private investment dropped about 13.8% annualized and government spending edged down 0.1%, tempering the overall gain.
• The rebound followed a Q1 annualized contraction of 0.6%, and the Atlanta Fed’s tracking suggests solid growth continued into Q3.