May 1, 2025
The US economy stumbled into reverse in the first quarter of the year, posting a us gdp contraction of 0.3%—its worst quarterly performance since 2022. The Commerce Department’s gdp report today revealed a sharp downturn from the 2.4% growth of Q4 and fell well below economists’ forecasts of +0.8%.
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The us gdp contraction of -0.3% in Q1, hit by widening trade deficits and government spending cuts after Trump’s abrupt tariff changes