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The US economy shrank much faster in the first quarter than previously reported (www.cnn.com)

submitted 2 weeks ago by bytesonbike@discuss.online to c/usa@midwest.social

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The first quarter’s decline in GDP was attributed to a massive trade deficit as American businesses rushed to stock up on imports to get ahead of President Donald Trump’s stiff tariffs. The third estimate revised imports down, but they still greatly exceeded exports, which subtracted from GDP.

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[–] ShellMonkey@lemmy.socdojo.com 3 points 2 weeks ago

Rising prices, reduced stocks, lower demand, market uncertainty because captain chaos changes his mind by the hour... Who would of thunk it?