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US GDP in Q1 2025 declines but April employment beats expectations

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US GDP dropped by -0.3% q/q in the first quarter of 2025, raising fears the economy is heading for a recession. The main reason was a 50% q/q increase in US imports in anticipation of tariff increases. However, it will take a couple of months before the impact of tariffs and consumers’ reaction to them will become fully evident. Latest US employment data, a critical gauge of the performance of the economy, shows 177 000 jobs were added in April, well above expectations, and the jobless rate was unchanged at 4.2%.
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5 May 2025 English South Africa Investing · Business News
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