US economy grew 3.8% in 2nd quarter, far exceeding previous estimate

The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump's tariff policy, federal government data on Thursday showed. The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government's final estimate, besting a 3.3% rate issued in its second estimate and far exceeding a 3% initial estimate. The figure marked a sharp acceleration from an annualized contraction of -0.5% over the first three months of 2025. Still, taken together, the data indicates an economic slowdown over the first half of 2025. A boost in consumer spending helped propel the economic surge over three months ending in June, the U.S. Commerce Department said. Consumer spendin