GDP and Trade

As you Econ studs know GDP = C + I + G + (X - M). The year over year GDP reading for the second quarter (reported here) was a stronger than expected 3.3%. The reasons? One can safely assume that rebate checks turned into "C", but trade provided a nice stimulus of its own. Imports (M) were down 7.6% and exports (X) up by 13.2%. The reason? The weak dollar.