US economy: Q2 GDP growth revised upward to 3.3%; driven by low imports and strong consumer spending

The US economy rebounded strongly in the second quarter, growing at 3.3%, revised upwards from initial estimates. This surge followed a 0.5% contraction in the first quarter, largely attributed to President Trump’s tariffs disrupting trade flows. A sharp drop in imports significantly boosted GDP, offsetting weaker investment and exports, while corporate profits also saw a substantial increase.