43

Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears.

He claimed the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs.

The US economy contracted at an annual rate of 0.3%, the US commerce department said, a sharp downturn after growth of 2.4% in the previous quarter. It comes as Trump marks 100 days in office, with opinion polls indicating public discontent over his economic stewardship.

you are viewing a single comment's thread
view the rest of the comments
[-] KingGordon@lemmy.world 9 points 2 days ago

Maybe it would have contracted more, but the pre-buying made the contraction less severe.

this post was submitted on 01 May 2025
43 points (100.0% liked)

Economics

789 readers
27 users here now

founded 2 years ago