US EditionUS 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.
413 Articles
413 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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