The US president blames the first quarterly GDP decline in three years on his Democratic predecessor.

Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears.

He claimed the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs.

The US economy contracted at an annual rate of 0.3%, the US commerce department said, a sharp downturn after growth of 2.4% in the previous quarter. It comes as Trump marks 100 days in office, with opinion polls indicating public discontent over his economic stewardship.

  • Jaysyn@lemmy.world
    34·
    2 days ago

    Time is only going to make it worse, not better. The real pain hasn’t even started yet.

    We need to cut this cancer out while we still can.

    • Bone@lemmy.world
      3·
      2 days ago

      Little mix up on the 2nd date (2005 instead of 2025). Whatever, I’m still partying like it’s 1799!