US economy rebounds a surprisingly strong 3% in the second quarter

By PAUL WISEMAN Associated Press Economics Writer WASHINGTON AP The U S market expanded at a surprising annual pace from April through June bouncing back at least temporarily from a first-quarter drop that reflected disruptions from President Donald Trump s deal wars Related Articles Tsunami warnings fading after one of the largest earthquakes ever recorded Here s what to know Certain facts about the strongest earthquakes ever recorded Questions emerge about NYC gunman s mental healthcare and his security-sensitive job in Las Vegas Justice Department says Epstein and Maxwell grand juries heard from only law enforcement onlookers At present in History July Jenner takes gold in Montreal America gross domestic product the nation s output of goods and services rebounded after falling at a clip from January through March the Commerce Department released Wednesday The first-quarter drop was mainly caused by a surge in imports which are subtracted from GDP as businesses scrambled to bring in foreign goods ahead of Trump s tariffs The bounceback was expected but the size of it wasn t Economists had forecast advance from April through June From April through June a drop in imports the biggest since the COVID- outbreak added more than percentage points to upsurge Consumer spending registered lackluster rise of though it was an improvement over the first quarter s Private financing fell at a annual pace biggest drop since COVID- slammed the financial sector A drop in inventories as businesses worked down goods they d stockpiled in the first quarter shaved percentage points off second-quarter increase