US Economy Contracts for First Time Since 2022 on Imports Surge
- The US economy unexpectedly contracted by 0.3% in the first quarter of 2025, marking the first decline since 2022, as reported by the Commerce Department’s Bureau of Economic Analysis.
- Imports surged at a 41.3% rate, the largest increase since the third quarter of 2020 due to upcoming tariffs by President Donald Trump.
- Senator Elizabeth Warren stated that Trump's tariffs are shrinking our economy, with businesses preparing for these tariff changes.
- Forecasts by Paul Ashworth of Capital Economics predict a rebound to a 2% growth rate in the upcoming quarter.
416 Articles
416 Articles
U.S. Economy Contracts in First Quarter of 2025
by Ireland Owens U.S. real gross domestic product (GDP) decreased at a rate of 0.3% in the first quarter of 2025, according to statistics released by the Bureau of Economic Analysis (BEA) on Wednesday. The first quarter decrease follows the U.S. economy growing by 2.4% in the fourth quarter of 2024, after increasing 3.1% in the third quarter, according to the BEA. The Federal Reserve Bank of Atlanta’s GDPNow, a running estimate of real GDP gro…
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US economy contracts for first time since 2022 on imports surge
The U.S. economy contracted at the start of the year for the first time since 2022 on a monumental pre-tariffs import surge and more moderate consumer spending, a first snapshot of the ripple effects from President Donald Trump’s trade policy.
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Demonstrators holds signs as a motorist passes with flags supporting President Donald Trump during an April 5, 2025, protest in Columbia, South Carolina. Protestors organized nationwide demonstrations against Trump administration policies and Elon Musk's U.S. DOGE Service. (Photo by Sean Rayford/Getty Images)WASHINGTON — Tuesday marked the 100th day of President Donald Trump’s second term, a period filled almost daily with executive orders seeki…
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