Trump is not guilty for the whole quarter, because the inauguration of the presidency took place at the end of January, but it was his decisions that influenced the current data from the American economy. Specifically, it is about an increase in import, which most affected the decrease in GDP in an annualized approach (supervisor from one quarter for the whole year, taking into account the difference in business days).
In this approach GDP decreased in the first quarter by 0.2 percent. Quarter to the quarter. This is the second reading and is a bit better than the first reading, which indicated a decrease by 0.3 percent. The previous time the American economy was in the minus in the second quarter of 2022.
US GDP changes in an annualized approach
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Investing.com / Investing.com
It was most affected by net exports, i.e. the deteriorating difference between export and import, which deducted as much as 4.9 percentage points from the PKB. Exports added 0.3 percentage points to change GDP, a Imports deducted as much as 5.2 percentage points
For an increase in imports in the first quarter by $ 109.6 billion. (+12.9 percent rdr) to $ 962 billion Undoubtedly, information about the planned duties and the imposition of these duties by Donald Trump. The importers tried to make it at the last minute, so they increased their orders. Exports also increased, but only by $ 17 billion. year on year (+2.8 percent) to $ 644 billion. The trade gap, which Donald Trump wants to stick, thus increased significantly, at least temporarily.
Muska cuts reduced GDP
Additionally, 0.1 percentage points He deducted a decrease in government consumption from the inflated dynamics of GDP, including 0.3 percentage points. at federal level. It comes, among others for cuts carried out by the team led by Elon Musk.
In a non -ongoing approach and year -on -year relation, to which we are used to in Europe, US GDP in the first quarter, however, increased year -on -year by 2 %, So the data is not bad and even much better than European ones. Private consumption increased by 2.6 percent. yard, private gross investments by 6.3 percent, and government consumption by 2.7 percent. Export increased by 2.8 percent. yard, and imports by 12.9 percent
Without taking into account inflation, GDP increased by 4.6 percent. up to 7.3 trillion dollars in the first quarter.
