US Economy Dips in Early 2025
(MENAFN) The American economy shrank by 0.2 percent during the initial three months of the year on a quarter-over-quarter basis, as revealed in statistics published by the Bureau of Economic Analysis (BEA) on Thursday.
According to the BEA's second calculation, the nation's gross domestic product (GDP) declined at an annualized pace of 0.2 percent in the first quarter of 2025, an improvement from the earlier preliminary figure of -0.3 percent.
The agency attributed the GDP downturn largely to a rise in imports, explaining that imports are a subtraction in the calculation of GDP, and also noted a drop in government expenditures.
"These movements were partly offset by increases in investment, consumer spending, and exports," the bureau mentioned.
The GDP figure was revised upward by 0.1 percentage points compared to the initial estimate, owing to a higher adjustment in investment, though this was partially counterbalanced by a lower revision in consumer expenditure, the report explained.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
