Trump Economy Surges: Strong Spending, Trade Gap Narrows

Second-quarter GDP was revised up to 3.8% - once again proving the so-called "experts" wrong as strong consumer spending, rising incomes, and a narrowing trade gap define President Donald J. Trump's economic resurgence.

Here's what else you need to know:

• Second quarter GDP was revised up from its last upward revision, reflecting a narrowing trade gap and strong consumer spending.
  • Real disposable income growth was also revised up to 3.1%, showing that income growth remains strong and wages are rising.
  • This 3.8% growth is the fastest pace of economic growth in nearly two years.
• Manufacturers' demand for durable goods surged in August - smashing expectations - signaling confidence and future investment in manufacturing as domestic producers ramp up capacity.
• Factory production grew last month for goods and services producers, while output for government decreased - highlighting that growth is being driven by the private sector.

• Small business confidence is at its highest level in nearly a decade, according to the U.S. Chamber of Commerce.
• New home sales soared in August - hitting a three-year high.
  • Summer 2025 was the strongest market for homebuyers in more than a decade.

Here's what they're saying:

• CNBC's Rick Santelli: "We see a really solid revision - 3.8%. I'm a bit shocked, to be honest… The balance is moving in favor, the momentum is moving in favor, for better growth."
• Fox Business Network's Cheryl Casone: "A gain of 3.8%. This is much higher than the second read of the second quarter for GDP of 3.3%. It's now 3.8%, and this is the final read for the second quarter. A strong economy. Consumer spending - strong… That GDP number, it's very rare to see that. That was a good number."
• Job Creators Network CEO Alfredo Ortiz: "Thursday's positive economic indicators demonstrate America's small business backbone is strong and getting stronger. Economic growth in the second quarter was revised up to nearly 4%, and durable goods orders smashed expectations. These numbers reflect a robust underlying economy that is being powered by Republican tax cuts, including pro-growth provisions such as permanent 100% immediate expensing and the 20% small business deduction."
• Oxford Economics Chief U.S. Economist Ryan Sweet: "Consumers spent more than previously thought in Q2, leading to a noticeable upward revision to real GDP growth… Odds are that we will be revising higher our forecast for Q3 GDP because of the incoming data on spending this quarter."
• BMO Senior Economist Priscilla Thiagamoorthy: "That was a meaningful bump-up from the previous estimate of 3.3% thanks to the mighty consumer. Today's run of data suggest that the economy - which strongly rebounded after the pandemic recession - continues to hold up well…"
• Axios: New revisions show stronger economic growth in second quarter
• Bloomberg: US Economy Grows at Fastest Pace in Nearly Two Years on Consumer Spending
• CNN: The US economy grew at a 3.8% rate in the second quarter, significantly stronger than previously reported
• Fox Business: US economy grew faster than expected in the second quarter
• MarketWatch: 'Thanks to the mighty consumer,' GDP shows more spring in U.S. economic growth
• Reuters: US economy grows at fastest pace in nearly two years in second quarter
• The Wall Street Journal: U.S. GDP Grew Stronger Than Estimated in Second Quarter