US economy rebounds a surprisingly strong 3% in the second quarter

By PAUL WISEMAN Associated Press Economics Writer WASHINGTON AP The U S financial system expanded at a surprising annual pace from April through June bouncing back at least temporarily from a first-quarter drop that reflected disruptions from President Donald Trump s deal wars Related Articles Tsunami warnings fading after one of the largest earthquakes ever recorded Here s what to know Selected facts about the strongest earthquakes ever recorded Questions emerge about NYC gunman s mental wellbeing and his security-sensitive job in Las Vegas Justice Department says Epstein and Maxwell grand juries heard from only law enforcement bystanders In contemporary times in History July Jenner takes gold in Montreal America gross domestic product the nation s output of goods and services rebounded after falling at a clip from January through March the Commerce Department revealed 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 The bounceback was expected but the size of it wasn t Economists had forecast upsurge from April through June From April through June a drop in imports the biggest since the COVID- outbreak added more than percentage points to improvement Consumer spending registered lackluster expansion of though it was an improvement over the first quarter s Private financing fell at a annual pace biggest drop since COVID- slammed the economic system A drop in inventories as businesses worked down goods they d stockpiled in the first quarter shaved percentage points off second-quarter upsurge