U.S. economy shrinks faster than thought
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economic growthCBS News
•Business
Business & Economics
GDP data shows U.S. economy shrank more than previously thought in early 2025

86% Informative
U.S. economy shrank faster than previously thought during the first three months of 2025 .
The country's gross domestic product fell at an annual rate of 0.5% from January through March .
First-quarter growth was weighed down by a surge of imports as companies rushed to buy foreign goods before tariffs went into effect.
Consumers sharply pared spending earlier this year , down from a robust 4% in 2024 .
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