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Washington, Jul 30 (AP) The US economy expanded at a surprising 3 per cent annual pace from April through June, bouncing back at least temporarily from a first-quarter drop that reflected disruptions from President Donald Trump's trade wars.
America gross domestic product — the nation's output of goods and services — rebounded after falling at a 0.5 per cent clip from January through March, the Commerce Department reported Wednesday.
The first-quarter drop was mainly caused by a surge in imports — which are subtracted from GDP — as businesses scrambled to bring in foreign goods ahead of Trump's tariffs.
Economists had expected 2 per cent second-quarter growth.
From April through June, a drop in imports added more than 5 percentage points to growth. Consumer spending came in at a weak 1.4 per cent, though it was an improvement over the first quarter. (AP) GRS GRS