The U.S. economy grew at a surprising 3% annual pace from April through June, rebounding from a first-quarter decline due to disruptions from trade wars. The rebound was larger than expected, with a significant drop in imports contributing to the growth. Consumer spending increased by 1.4%, while private investment fell at a 15.6% annual pace, the largest drop since the COVID-19 pandemic. Inventory reductions also impacted second-quarter growth.
Source: https://www.wsbtv.com/news/us-economy-rebounds/PBG5ATFLX5H6XLQEBA7CTSOXLY