The U.S. economy grew at a strong 3.8% annualized pace in the second quarter, the government reported Thursday in its final revision of gross domestic product data for April through June.
U.S. GDP — the nation's output of goods and services — rebounded in the spring from a 0.6% first-quarter drop caused by fallout from President Donald Trump's trade wars, the Commerce Department said. The department had previously estimated second-quarter growth at 3.3%, and forecasters had expected a repeat of that figure.
Consumer spending buoyed the economy in the second quarter, rising at a 2.5% pace, up from 0.6% in the first quarter and well above the 1.6% the government previously estimated. The data provides evidence that Americans continued to open their wallets despite broader economic h