The government’s report for the second quarter is expected to show a moderate recovery in output, with a revised Q2 nowcast indicating a 1.7% increase. The Bureau of Economic Analysis will release the initial Q2 GDP data on July 30. Despite trepidation about tariffs, consumer spending remains strong, with recent data supporting the outlook for economic recovery. However, uncertainties remain for the second half of the year, especially regarding the impact of tariffs on pricing pressure. US consumer inflation rose 2.7% in June, the highest increase since February, with experts predicting higher inflation ahead due to tariffs.

Read more at Investing.com: Moderate Rebound Still Expected for US Economy in Q2 GDP Data