The US economy receives good news.

(Dan Tri Newspaper) - The US GDP in the second quarter increased by 3.3% compared to the same period last year. This figure is also higher than the initial estimate of the US Department of Commerce.

According to the latest economic indicators released by the US Department of Commerce, the country's GDP grew by 3.3% in the second quarter, higher than the initial estimate of 3% in July and the Dow Jones forecast of 3.1%.

In the first quarter, the US economy contracted by 0.5% due to a surge in imports. Conversely, in the past quarter, imports fell by 29.8%, contributing to a growth increase of more than 5 percentage points.

Among the key drivers, private consumption and investment in the second quarter of 2025 were stronger than initially estimated. Consumer spending, which accounts for about 70% of GDP, increased 1.6% year-on-year.

"The positive is that actual consumption is higher than previously estimated. Americans continue to spend despite tariffs and uncertainty, albeit at a slower pace than in previous years," Heather Long, chief economist at Navy Federal Credit Union, told AP.

In the first half of the year, the US economy grew by approximately 2.1%. It is projected that in the third quarter of 2025, the country's GDP could grow by 2.2%, according to the GDPNow indicator from the Federal Reserve Bank of Atlanta.

People shop at a store in Chicago, USA (Photo: Reuters).

The U.S. Department of Labor reported that the number of initial jobless claims fell by 5,000 to 229,000 in the week ending August 23.

Heather Long believes that a resilient labor market is giving people more confidence in spending on basic necessities and small purchases.

However, she predicted the economy would remain in slowdown mode, with spending and growth hovering around 1.5% as the impact of tariffs becomes increasingly clear to American consumers.

Earlier, US Treasury Secretary Scott Bessent said that the $300 billion in import tax revenue he had previously estimated was still too low.

"We saw a surge in August compared to July. I think the increase in September compared to August will be even bigger. We could be heading towards over $500 billion and even towards $1 trillion," Bessent said at a cabinet meeting at the White House on August 26.

Mr. Bessent believes this means the budget deficit will improve significantly. Revenue from import taxes will offset the shortfall from the spending and tax cuts passed in July.

In an interview with CNBC on August 19, the US Treasury Secretary stated that the US government would use revenue from import tariffs to reduce its public debt. Previously, some US lawmakers had proposed distributing this money to citizens, with a minimum of $600 per adult and child.

Source: https://dantri.com.vn/kinh-doanh/kinh-te-my-don-tin-vui-20250828233919236.htm