US Q2 GDP revised up to 3.3%
By Michele Maatouk
Date: Thursday 28 Aug 2025
(Sharecast News) - The US economy grew more than initially estimated in the second quarter, according to figures released on Thursday by the Commerce Department.
A second estimate revealed that gross domestic product expanded at an annualised rate of 3.3%, up from an initial estimate of 3% growth. Economists were expecting a revision to 3.1%.
This followed a 0.5% contraction in the first three months of the year.
The Commerce Department said the revision to Q2 GDP mainly reflected upward revisions to investment and consumer spending that were partly offset by a downward revision to government spending and an upward revision to imports.
Harun Thilak, head of global capital markets NA at Validus Risk Management, said: "While backward-looking, the print suggests an economy moving along fairly smoothly and, so far, not showing the weakness many expected from tariffs.
"Concerns remain about labour-market softness, which has contributed to a more dovish bias from Fed members. Markets are currently pricing about an 85% probability of a 25-basis-point rate cut at the September Fed meeting, with roughly 54 basis points of cuts priced in for the remainder of 2025."
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