US GDP Contracted 0.2% in Q1, Consumer Spending Weakens

Published: May 30, 2025 13:28

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The revised annualized GDP growth rate for the US in Q1 contracted by 0.2%, a slight upward revision from the previously announced preliminary figure of a 0.3% contraction, yet still indicating that the US economy experienced contraction at the beginning of the year. The growth rate of consumer spending was significantly revised downward, marking the weakest growth in nearly two years. Corporate profits plummeted by 2.9%, the largest decline since 2020. Core PCE was slightly revised downward to 3.4%.

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