US economy shrinks as firms import more ahead of tariffs
Source: BBC
Natalie ShermanBusiness reporter, BBC NewsGetty ImagesThe US economy shrank in the first three months of the year due a drop in government spending and a surge in imports as firms raced to get goods into the country ahead of tariffs.The economy contracted at an annual rate of 0.3%, a sharp downturn after growth of 2.4% in the previous quarter, the Commerce Department said. The report is the most comprehensive…
This is aggregated or syndicated coverage. Reporting and media belong to the original publisher.
Read the original source at BBC