American gross domestic product (GDP) jumped 3% for the second quarter, significantly better than the 2.3% estimate.

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	Forwarded this email? Subscribe here for more U.S. GDP surges much better-than-expected to 3% for Q2; American consumer spending up 1.4% MacDailyNews Jul 30   READ IN APP   American gross domestic product (GDP) jumped 3% for the second quarter, significantly better than the 2.3% estimate. U.S. President Donald Trump responded to the GDP report with a fresh demand for the Federal Reserve to lower interest rates. Jeff Cox for CNBC: ‎ The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday. Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation. That topped the Dow Jones estimate for 2.3%… “The anti Trump story has been that we’re going to have a recession or a depression because of the tariffs, which are going to jack up prices and cause consumers to run for the exits” Kevin Hassett, National Economic Council director, said on CNBC. “In fact, every single thing about this GDP release has shown strength.” Consumer spending rose 1.4% in the second quarter, better than the 0.5% in the prior period. The Fed meets later Wednesday and is expected to hold its key overnight borrowing rate steady in a 4.25%-4.5% range, where it has been since December. Trump responded to the GDP report with a fresh demand for the Federal Reserve to lower interest rates. President Trump via Truth Social, July 30, 2025 at 8:38am EDT: ‎ 2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! “Too Late” [Federal Reserve Chair Jerome Powell] MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes! ‎ MacDailyNews Note: In fiscal year 2024, it’s estimated that roughly 35% of Apple’s total revenue, or about $136.86 billion, came from the U.S. market. In terms of revenue, America is Apple’s single largest market compared to other regions like Europe (24%) or Greater China (18%). ‎ Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you! Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post U.S. GDP surges much better-than-expected to 3% for Q2; American consumer spending up 1.4% appeared first on MacDailyNews. You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2025 MacDailyNews 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe