Quarterly economic update: Q2 2025

Examine changes in consumer confidence, the early impacts of tariff policies, and trends in the U.S. stock market as AVMA’s chief economist reviews economic data for the second quarter of 2025. You’ll also explore some of the longer-term trends developing in the housing market, and how they might influence pet owners and consumer spending.

LEARNING OBJECTIVES: 

• Understand what the economic data for Q2 2025 could mean for client behavior and spending. 
• Examine key elements influencing news headlines, and where there may be reasons for economic optimism or concern. 
• Be informed and ready to handle changes in the 2025 economy—especially pertaining to new tariffs.

Watch the Q1 2025 economic update here. 

ABOUT THE PRESENTER: Katelyn McCullock, MS Katelyn McCullock is AVMA’s chief economist, responsible for leading the Veterinary Economics Division at the AVMA since 2024. She has over 15 years’ experience working in agricultural economics, with a focus on livestock economics. Before joining AVMA, she ran the Livestock Marketing Information Center, which specializes in livestock marketing economics and commodity forecasting. Other roles have included advocacy and animal welfare work with the American Farm Bureau Federation. McCullock holds a master’s degree in agricultural economics from Colorado State University.