Wednesday's data showed US economic growth rebounded in the second quarter as the widest swath of President Trump's tariffs took hold.

U.S. economic growth likely rebounded in the second quarter as the flow of imports subsided, but with consumer spending anticipated to have increased moderately and business investment in equipment stalled that would grossly exaggerate the economy's health.

US GDP grows at 3% annual rate despite weak consumer spending and plunging business investment. Trump celebrates while economists warn of hidden weaknesses.