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September 25, 2025
Data released by the Commerce Department on Thursday showed the U.S. economy grew in the second quarter of 2025. The report stated that real GDP increased by 3.8% in the second quarter, compared to the previously reported 3.3% surge.
The sharp increase in GDP in the second quarter reflected growth in consumer spending, as well as a substantial downturn in imports, which is a subtraction in the calculation of GDP.
The report showed imports plummeted by 29.3% in the second quarter after skyrocketing by 38.0% in the first quarter. The positive contributions from consumer spending and imports were partly offset by decreases in investment and exports.
The spike in GDP in the second quarter came following a 0.6% decrease in the first quarter, with the upturn primarily reflecting the downturn in imports and the acceleration in consumer spending that were partly offset by a downturn in investment.
The report also said the jump by the PCE price index in the second quarter was upward to 2.1% from 2.0%. The PCE price index soared by 3.4% in the first quarter.
The second quarter surge by the core PCE price index, which excludes food and energy prices, was also upward to 2.6% from 2.5%. The core PCE price index shot up by 3.3% in the first quarter. 09/25/2025 - 10:20:00 (RTTNews)
Another report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits declined in the week ending on September 20. The Labor Department said initial jobless claims fell to 218,000, a decrease of 14,000 from the previous week's level of 232,000.
Jobless claims pulled back further from the nearly four-year high set in the first week of September, falling to their lowest level since hitting 217,000 in the week ending on July 19. This report said the less volatile four-week moving average also slipped to 237,500, a decrease of 2,750 from the previous week's average of 240,250.
Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also edged down by 2,000 to 1.926 million in the week ending on September 13. The four-week moving average of continuing claims also dipped to 1,930,000, a decrease of 4,500 from the previous week's average of 1,934,500. 09/25/2025 - 09:36:00 (RTTNews)
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