The volatility in economic data was front and center with the recent release of numbers on gross domestic product, which came in stronger than many anticipated.

U.S. GDP grew at an annualized rate of 3% in the second quarter, or 2% if you compare to Q2 of last year. This rebound follows a contraction (-0.5%) in the first quarter this year, which was attributable to front-loaded trade activity as businesses tried to get ahead of tariffs.

While this positive growth is encouraging, details are always important when assessing the overall health of the economy.

One such layer is consumer sentiment, which inched up 1 point in July to 61.8 (from 60.7 in June). These levels are far below pre-pandemic averages and 16% below December 2024’s index.

As I mentioned in a recent article, lackluster c

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