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US Economy Contracts in Q1 2023 Amid Import Surge and Consumer Spending Slowdown
2025-04-30 /
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Author：小编
The United States economy contracted in the first quarter of 2023 for the first time since 2022, primarily due to a surge in imports ahead of anticipated tariff adjustments and a deceleration in consumer spending. Preliminary figures released by the US government on Wednesday revealed that inflation-adjusted gross domestic product (GDP) declined at an annual rate of 0.3% during the quarter, a sharp contrast to the average growth rate of approximately 3% observed over the preceding two years. This downturn signals the initial ripple effects of the trade policies implemented under the Trump administration.
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