US economy slows sharply, shrinking 0.3% in the first quarter, as tariffs weigh
1. U.S. GDP contracted by 0.3% in Q1, surprising economists. 2. Imports surged by 41%, impacting GDP negatively. 3. Consumer spending rose across services and goods. 4. First quarterly GDP contraction since Q1 2022 recorded. 5. Decreased government spending contributed to GDP decline.