U.S. economy shrinks 0.2% annually

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Business

Business & Economics

Hit by Trump trade wars, U.S. economy falls 0.2% in first quarter, an upgrade from initial estimate

Summary

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83% Informative

U.S. economy falls 0.2% in first quarter , an upgrade from initial estimate.

First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes.

Imports grew at a 42.6% pace, fastest since third-quarter 2020 .

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formal

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English

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