The Bureau of Economic Analysis will release its first-quarter GDP report on April 30.
The Federal Reserve Bank of Atlanta’s GDPNow Model, a widely watched estimate, suggests the growth rate was negative 0.4 percent after adjusting for gold imports and exports.
If accurate, this would represent a decline from the previous quarter’s 2.4 percent expansion, and the first contraction since the first quarter of 2022. Meanwhile, the market’s consensus forecast signals a 0.4 percent increase.
The U.S. economy is expected to have endured a sharp slowdown in the first quarter, in light of tariff shocks and policy uncertainty, economists say.
Imports likely played an outsized role in the GDP report as companies rushed to purchase items overseas before President Donald Trump’s tariffs were implemented….