The third estimate confirmed that the economy expanded in the second quarter. Trade swings still explained part of the contrast with the contraction reported for early 2025.
Revisions improve the source data
Later estimates incorporate more complete information on services, trade, and business activity.
A rebound can be mechanical and real
Reversing an earlier import surge improved the arithmetic while domestic demand also continued.
Several quarters tell the better story
Averaging through the swing reduced the chance of mistaking timing for a new trend.
Sources
- U.S. Bureau of Economic Analysis, GDP Third Estimate, Second Quarter 2025.