The U.S. expanded at a 3% annual pace in the second quarter, masking signs of weakness in the economy as businesses and consumers grappled with how to respond to ongoing trade wars.

The size of the U.S. economy grew in the second quarter of this year by a lot — 3%, annualized . That’s after it contracted in the first quarter by 0.5%. But as is so often the case in economics and elsewhere, looks can be deceiving.