The Bureau of Economic Analysis revised the US's second quarter GDP print for the second time, raising it from 2.8% to 3%. US Bank Wealth Management senior investment strategist Rob Haworth joins Market Domination to discuss the data and what it signals about the state of the economy.

Haworth sees "resilience" in the US consumer, and with Friday's Personal Consumption Expenditures (PCE) report, investors will likely see a clearer picture. "The consumer continues to find ways to maintain spending. And part of that is we have a very low unemployment rate at 4.3%. We continue to see job growth. Jobless claims are not ticking higher and we've had wage growth. So consumers are really still in an OK spot to spend money," he explains.

He notes that while there is some weakness specifically among lower-income consumers, "that's not yet really bleeding through to the overall spending levels for the economy." While many fear that the economy is already in a recession, Haworth believes that's not the case. "The consumer came into this with a strong background in savings, low credit costs. And then we've gotten wage increases and new people in the labor force. So that's really still helping the economy as we move ahead," he explains.

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This post was written by Melanie Riehl