GDP series | Eye On Housing

U.S. Economy Contracted in First Quarter of 2025

Jing FuApril 30, 2025April 30, 202504 mins

The U.S. economy contracted in the first quarter of 2025 for the first time in three years, driven by a sharp surge in pre-tariff imports, softening consumer spending, and a decline in government spending. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) decreased at an…

U.S. Economy Ends 2024 With Solid Growth

Jing FuJanuary 30, 2025January 30, 202504 mins

Real GDP growth slowed in the fourth quarter of 2024, but the economy finished the year at a solid rate. While consumer spending continued to drive growth, gross private domestic investment detracted over a full percentage point mainly due to a decline in private inventories. According to the “advance” estimate released by the Bureau of Economic…