Lates News

At a time when concerns about an economic downturn spread from Washington to Wall Street, data released by the US government on Wednesday showed that real GDP contracted by 0.3% after seasonal adjustments, compared to economists' general prediction of a 0.4% growth in real GDP, a significant decrease from the previous quarter's 2.4% growth. Basic indicators of economic activity suggest that Wednesday's GDP data may be even worse than this; the Atlanta Federal Reserve Bank's GDPNow model predicts a 0.4% decline in GDP for the first quarter after excluding gold imports and exports, while Goldman Sachs' tracking model shows a contraction of 0.2%. This is the weakest economic growth in the United States since the first quarter of 2022. Negative GDP growth is rare in the United States, occurring only three times in the past 10 years.