US Q1 GDP Contracts On Record Imports, Shrinking Govt, As Consumption Comes In Stronger Than Expected There were good and bad news in today’s GDP report. Starting with the bad news, Q1 GDP printed -0.3%, worse than the -0.2% expected and the first negative print since Q1 2022 when the economy was in a recession but was subsequently revised out of it The good news is that the drop was actually supposed to be much worse (recall the Atlanta Fed’s latest GDP estimate was -2.7%, or -1.5% excluding record gold imports). Indeed, if one looks at the components of today’s… — Continue at ZeroHedge News : Read More
