US economy unexpectedly contracts in first 3 months of Donald Trump presidency
AFP
April 30, 2025 / 18:16 IST
The gross domestic product of the world’s largest economy decreased at an annual rate of 0.3 percent in the first quarter
The US economy unexpectedly contracted in the first three months of this year, as the early effects of President Donald Trump’s policies, including a stop-start approach to tariffs, weighed on growth.
The gross domestic product of the world’s largest economy decreased at an annual rate of 0.3 percent in the first quarter, after growing 2.4 percent in the final months of 2024, according to an estimate from the US Commerce Department.