Source: Staffing Industry Analysts (04/30/25)
The U.S. economy shrank by 0.3% in Q1 2025, the first contraction since early 2022, according to data from the U.S. Bureau of Economic Analysis and coverage by SIA. The decline was driven primarily by a sharp increase in imports (up 41.3%), coupled with a drop in government spending. While consumer and business investment remained strong, the surge in imports, which are subtracted from GDP, outweighed those gains.
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