US Economy Contracts 0.5% in Q1, Revised Downward
TL;DR Summary
The US economy contracted by 0.5% in the first quarter, a sharper decline than initially reported, mainly due to weak consumer spending and a significant trade deficit influenced by tariffs. Despite some positive signs in durable goods orders, the economic outlook remains uncertain amid tariff tensions and labor market challenges.
- The US economy shrank much faster in the first quarter than previously reported CNN
- US GDP Revised Lower as Consumers Slash Recreation Spending Bloomberg.com
- Alert: US economy shrank 0.5% in first quarter on import surge ahead of tariffs, a downgrade of earlier estimates San Francisco Chronicle
- US first-quarter GDP contraction revised to -0.5% vs. -0.2% expected FXStreet
- U.S. economy shrank 0.5% between January and March, worse than earlier estimates revealed AP News
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