The federal government said Wednesday that the U.S. economy grew at a 3% rate in the second quarter of this year – exceeding Wall Street expectations and amid concerns that President Trump's tariffs would slow the economy.

The quarterly percentage increase was the biggest since the third quarter of 2024 – 3.1%, according to CNBC.com.

Wall Street's expectation was 2.5% growth for this quarter.

GDP decreased by 0.5% in the first quarter of this year, according to the Bureau of Economic Analysis, which compiles and releases reports.