The US Economy Bounces Back

As expected, the United States economy bounced back from its contraction in the first quarter of this year to grow by 3.0% on an annualized basis in the second quarter of 2025.

This was largely explained by the 30.3% decline in imports in the second quarter (following a 37.9% increase in imports in the first quarter). Consumer spending picked up a little, as did government spending, in the second quarter. However, fixed investment slowed sharply.