The US economy contracted by 0.2% in the first quarter, according to a revised estimate from the Bureau of Economic Analysis. This slower-than-expected growth was primarily due to weaker consumer spending and a larger-than-expected impact from international trade. The initial report had indicated a decline of 0.3%, but the second estimate has been reduced.
Source: https://www.bloomberg.com/news/articles/2025-05-29/us-economy-shrinks-0-2-on-weaker-spending-larger-trade-impact