US Economy Contracts in 1st Quarter for First Time Since 2022
According to the
This was the first quarterly contraction since the first quarter of 2022, but it was better than some forecasts signaled.
The widely watched Atlanta Federal Reserve Bank's GDPNow Model
Imports, which are subtracted from the gross domestic product calculations, rocketed 41.3 percent in the first three months of the year as businesses were front-running President Donald Trump's tariffs.
GDP data indicate that the decline was also a reflection of a decrease in government spending. In the January–March period, government outlays fell by 1.4 percent, with federal spending plummeting by 5.1 percent.
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- Yahoo
White House Confirms 19 Percent Shoe Tariff Rate With Indonesia: Are China, EU, Cambodia Next?
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an hour ago
- Yahoo
Euro under pressure as US-EU trade deal fails to impress
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Yahoo
an hour ago
- Yahoo
Cambodia Is a Growing Footwear Production Hub — A Trade Deal Could Be on the Way
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