According to new data reported Wednesday by the Commerce Department, the gross domestic product grew 3% for the April through June period, marking a stronger-than-expected second quarter.
“The word of the summer for the economy is ‘resilient,'” said the Chief Economist at Navy Federal Credit Union, Heather Long, to CNBC. “The consumer is hanging in there, but still on edge until the trade deals are done.”
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Graphic by ELSA RANCEL,PAZ PIZARRO,JONATHAN WALTER/AFP | Getty Images
Hiring rebounds
On Wednesday, ADP reported that hiring improved at private companies. Payrolls reversed a June loss of 23,000 jobs with a seasonally adjusted 104,000