US economy in Q2 uptick

America’s economy grew more slowly in the second quarter than previously thought but a bump in consumer spending helped offset other eye-catching weaknesses, according to new data released Thursday.

The revised figures confirmed the slowdown from the start of the year — with far weaker housing, oil exports, tourism and local government spending.

It also underscored the challenges facing President Donald Trump, who is touting his economic policies as he seeks reelection while prosecuting a grinding trade war with China.

GDP expanded 2.0 percent in the April-June period, down a notch from the initial 2.1 percent growth estimate reported last month, and well below Trump’s three percent target, according to the Commerce Department report.

Recession indicators in recent weeks have begun to flash warning signs, and though the American economy is still outpacing the rest of the industrialized world, it has begun to sputter worryingly in some areas.

Consumer spending remains robust and corporate profits rose in the second quarter, after falling at the start of the year, but business investment is floundering, according to the report.

And the China trade war could darken the picture in the third quarter as several companies warned in their earnings reports on Thursday that Trump’s latest round of China tariffs were a threat to profits, echoing urgent pleas from several industry groups.

Clothing retailer Abercrombie & Fitch said two coming waves of tariffs should wipe out about $6 million in profit in the fall shopping season.

RDQ Economics said the latest GDP numbers were “the proverbial mixed bag