April 30, 2025
United States:
US Economy Contracts for First Time Since 2022 on Imports Surge
The US economy contracted at the start of the year for the first time since 2022 on monumental pre-tariffs import surge and more moderate consumer spending, a first snapshot of the ripple effects from President Donald Trump’s trade policy.
Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3% in the prior two years, according to the government’s initial estimate published Wednesday.
Europe:
Euro-Zone Growth Unexpectedly Quickens But Trade Hit Still Ahead
The euro-area economy grew more than expected at the start of the year, though is yet to feel the full force of US President Donald Trump’s tariffs.
First-quarter gross domestic product jumped 0.4% from the previous three months — double the previous period’s gain — Eurostat said Wednesday.
Asia:
China Manufacturing Slumps on US Levies, Spurring Stimulus Calls
China’s factory activity slipped into the worst contraction since December 2023, revealing early damage from Donald Trump’s tariffs and prompting calls for a speedy policy boost.
The official manufacturing purchasing managers’ index fell more than expected to 49 from 50.5 in March, the National Bureau of Statistics said Wednesday.
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