US economy SHRANK in first quarter turbocharging recession fears

The US economy unexpectedly shrunk at the start of 2025.

America's gross domestic product (GDP) — a measure of all the goods and services produced in the US — contracted by 0.3 percent during the first quarter of 2025.

Bankers thought the GDP would read at 0.4 percent, which would have been the slowest rate in years.

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