The main driver of 1Q2025 #contraction was #Trump’s #trade war. Net exports, the difference b/w what US imports and exports, subtracted nearly 5% from headline GDP. That was the biggest quarterly drag from net exports on record since 1947, chart @wsj.com
#German economy won’t see meaningful growth this year and Trump’s #tariff policies threaten an even bleaker outcome. GDP will only increase 0.1% in 2025 following 2y of #contraction, less than the 0.8% predicted in Sept, chart @economics
https://www.bloomberg.com/news/articles/2025-04-10/german-institutes-slash-2025-outlook-and-warn-of-tariff-pain
After a sweep of soft US economic indicators in Febr, the Atlanta Fed’s closely watched #GDPNow model updated on Friday to show an alarming 1.48% #contraction of the economy, chart @reuters.com https://www.reuters.com/markets/global-markets-wrapup-1-2025-03-03/
Grammar Helpers:
"YOU'RE going to need to work on YOUR homonyms."
"THEY'RE going over THERE to eat THEIR picnic."
(It's #HootinTootinTuesday again! Post some jokes or funny memes under this hashtag today, and bring lots of smiles to #Mastodon.)
#euro zone: Purchasing Managers' Index PMI manufacturing sub-index fell to 46.1 in June, a level consistent with a #contraction of around 5% in output on an annual basis during 2H2024, chart @EFGInt
