The economy shrank in the 1st quarter.
According to the Bureau of Economic Analysis (BEA) advanced estimate, the U.S. economy contracted by 0.3% in the first quarter—marking the first decline in GDP since the 1st quarter of 2022. The economy grew by 2.0% in the last 4 quarters, down from 2.5% in the 4th quarter of 2024. It should be noted that the impact of tariffs will start to show during the 2nd quarter, with most of the impact anticipated in the latter half of the year.
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(Original air-date: 5/2/25)
