The us business division on Wednesday Said the World’s Largest Economy Declined by 0.3% in the initial quarter, According to Preliminary Data.
The First Gross Domestic Product (GDP) Figures for Us President Donald Trump’s Second Term Had Been Highly Anticipated, Especialy After the Sweeping Taping He Has Implemented Sion Taking Office.
Us Stock Index Futures Dropped After The Gdp Reading Raized Worries of A Us Slowdown Amid A Global Trade.
How do the numbers accumulate?
GDP Decreast at Annual Rate of 0.3% in the initial quarter, Having Grown BY 2.4% in The Final Months of 2024.
The Data was Far Below a Market Consensus Estimate of 0.4% Growth.
“The downturn in Real Gdp in the first quarters reflected at Upturn in imports, a deceleration in consumer spending, and a downturn in government spending,” The Commerce Department Said
The analysis was released on the 101st Day Since Trump’s Return to the Oval Office on January 20.
Since after that, The Us President Has Announced Several Rounds of Import Levies, Laying Out Plans in March to Impose Tariffs On Top Trading Partners from Early April thatLater Put On Ice
The Downturn was Largely Attributed to a Surge in Imports as Businesses and Consumers Stockpiled in Anticipation of Future Trump Tatiffs.
What has Trump Said concerning the Growth Dip?
Trump Blamed His Predecessor Joe Biden for the Bad Economic News In A Post on Post on his Truth Social Platform.
“This is biden’s Stock Market, Not Trump’s,” The Us President Wrote “Our Country Will Boom, but we have to get Rid of the biden ‘Overhang.'”
Edited by: Jenipher Camino Gonzalez
