The US economy rebounded in the second quarter, according to government data. At the same time, analysts warn of distortions due to changes in trade flows caused by President Donald Trump's tariffs.
According to the Department of Commerce, the world's largest economy expanded at an annual rate of 3% in the April-June period, exceeding analysts' expectations and reversing a 0.5% decline in the first three months of the year, AFP reported.
According to Briefing.com's consensus forecast, a rate of 2.5% was expected.
At the beginning of the year, companies rushed to stock up on products to avoid the negative consequences of Trump's threat to raise tariffs, but now the accumulation is receding.
"Real GDP growth in the second quarter mainly reflects a decline in imports, which is a component of GDP calculation," the Commerce Department said.
The increase also reflects an increase in consumer spending, the report said.
The increase in imports prior to the tariff hike in the first quarter of this year led to the largest record slowdown in GDP growth from net exports, Goldman Sachs analysts recently noted.
Analysts expected imports to recover, but said this may not be sustainable.
They warned that Trump's upcoming wave of tariff increases could lead to higher inflation, which in turn would reduce household purchasing power. This would have a negative impact on consumption patterns. | BGNES