US Q1 Growth Rate at -0.3%... First Negative Growth in Three Years

First Time Since Q1 2022

In the first quarter of this year, the U.S. GDP recorded -0.3%, indicating negative growth.

On April 30 (local time), the U.S. Department of Commerce announced that the advance estimate for the U.S. gross domestic product (GDP) growth rate in the first quarter was -0.3% on an annualized quarter-over-quarter basis.

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This figure falls short of the expert forecast of 0.4% compiled by Dow Jones.

This marks the first time in three years that the U.S. economy has experienced negative growth on a quarterly basis, since the first quarter of 2022 when it recorded -1.0%.