U.S. Economy Contracts 0.5% in Q1

1

U.S. GDP fell 0.5% annualized in Q1, worse than prior estimate of ‑0.2%

2

First quarterly contraction in three years, reversing 2.4% growth in Q4 2024

3

Imports surged 37.9%, cutting GDP by 4.7 percentage points amid tariff-driven frontloading

4

Consumer spending slowed to 0.5% growth, down from 4% in the prior quarter

5

Consumer confidence dropped to its lowest since the pandemic, reaching 93 in June

6

Underlying GDP measure rose 1.9%, down from previous estimates and Q4 levels

7

Economists expect a Q2 rebound to around 3% growth