Newmark：2025年第二季度美国资本市场研究报告（英文版）

Economy. U.s. cDP grew 3% in the second quaner of 2025, however he strong growh was dven by a deime inimpori. Consumpion growh decelerated and invesmendecined at a seasonaly adusted amuazed rale of15.6%, as marketreacions to the Liberalin day announcement onineto ripdle through he eonomy. in the neartem, theoutlook points to slower growth and higherthough trade announcements have easedsome ot the pres sure. That ambig uity continues to weioh on investment and hirina decisions. though theffect