CITIC Securities: The growth rates of US consumer spending and private investment are expected to continue facing downward pressure.

According to a research report from CITIC Securities, although US GDP data rebounded in the second quarter, this was mainly due to a slowdown in imports after tariffs were implemented, and in reality, the structure of GDP growth is not ideal. Currently, both core consumption and investment growth rates in the US reflect a slowdown in economic momentum. It is expected that under the continued influence of Trump's tariff policy, US consumer spending and private investment growth rates may continue to face downward pressure in the future.