Lates News

Goldman Sachs sharply lowered the first quarter GDP growth rate in the United States to -0.8%. Reports indicate that the trade deficit in March further expanded to a historical high of $162 billion. The import of goods in the United States increased significantly by $16.3 billion, reaching $342.7 billion. Meanwhile, the export of goods from the United States only slightly increased by $2.2 billion. Bill Adams, chief economist at PNC Bank, stated that unless there is a rapid change in the situation, the decrease in consumer disposable income and reduced capital spending by businesses may continue to worsen in the second quarter.