US GDP growth revised up in Q2

US economic growth was stronger than estimated in the second quarter of the year, driven by a decline in imports and a higher consumer spending, although investment and exports saw a slight decline.

According to data released Thursday by the Bureau of Economic Analysis, real gross domestic product (GDP) grew at a 3.3% annual rate in Q2 2025, compared to a 0.5% contraction in Q1.

GDP was revised upward by 0.3% from the preliminary reading, reflecting increased investment and consumer spending, while government spending declined and imports were revised upward.

On the price front, the domestic purchase price index (PPI)—a measure of inflation that focuses on the prices paid by consumers and businesses for purchases, whether domestic or imported—rose 1.8% during the quarter ending in June, a downward revision from the preliminary reading of 1.9%.

The personal consumption expenditures price index slowed to a 2% increase—a downward revision from 2.1%—compared to a 3.7% increase in the first quarter.

Its core counterpart, which excludes volatile food and energy prices—the Federal Reserve's preferred inflation measure—also slowed to 2.5% from 3.5%, unchanged from the preliminary reading.