World News | US Economy Rebounds Surprisingly Strong 3 Per Cent in Second Quarter

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.

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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.

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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)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)