Economic Report
Trade wars trigger first contraction in economy in three years
Published: April 30, 2025 at 1:03 p.m. ET
The economy contracted for the first time in three years, but it doesn’t mean the economy is rushing toward a recession. At least not yet.
Gross domestic product, the official scorecard of the economy, shrank at a 0.3% clip in the first quarter. The rate of inflation also rose sharply in the three months running from January to March.
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