Reported about 7 hours ago
The US economy contracted at an annualized rate of 0.3% in Q1 2025, marking the first GDP decline in three years due to a significant surge in imports and inflation exceeding forecasts. This downturn, attributed to companies accelerating import orders ahead of anticipated tariffs, was more pronounced than the expected 0.2% decline. Despite the negative GDP growth, underlying consumer demand showed some resilience with a 3% growth in final sales to domestic purchasers.
Source: YAHOO