Part 2/11:
The headline news is the first quarter GDP report, which revealed a 0.3% annualized contraction—the first such decline since 2022. This downturn defies expectations of modest growth, instead signaling a slowdown. The main culprit behind this negative growth was a massive 51% surge in imports, likely driven by companies rushing to stock up in anticipation of tariff hikes. This influx of imported goods inflated import figures without necessarily indicating domestic economic strength.