Economy Grew at 3% Rate in Second Quarter

“The U.S. economy returned to growth in the second quarter after contracting in the first, largely due to trade swings,” the Wall Street Journal reports.

New York Times: “On the surface, that appeared to represent a strong rebound from the first three months of the year, when output contracted at a 0.5 percent rate.”

“But both those figures were skewed — in opposite directions — by big swings in trade and inventories caused by President Trump’s ever-shifting tariff policies. Taken as a whole, the data from the first six months of the year tell a more consistent story of anemic, though positive, economic growth.”