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52 sats \ 2 replies \ @Aardvark 30 Apr \ on: U.S. economy went into reverse in the first quarter, new GDP data shows econ
I wouldn't put a ton of stock in the GDP numbers yet. Imports went up quite a bit to front load a head of the tarrifs, and imports are subtracted from the GDP. As far as I know anyhow.
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21 sats \ 0 replies \ @Bell_curve 30 Apr
GDP = C + G + E - I
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0 sats \ 0 replies \ @Bell_curve 30 Apr
Under the government’s formula for calculating GDP—consumption plus investment plus government spending plus net exports—imports are a drag on growth. A surge in imports deepens the negative net export figure, subtracting from GDP even if those goods are headed for eager American consumers. The result: strong domestic demand or businesses rushing to import goods ahead of new tariffs can translate into weaker GDP growth.
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