Adnkronos Rome, 30 Apr (Adnkronos) – The US GDP data, which in the first quarter recorded an unexpected contraction of 0,3%, depresses the US stock markets – and sends the European ones into negative territory, according to preliminary data published on Wednesday by the Department of Commerce. The data compares with the + 2,4% recorded in the fourth quarter and marks the first drop in US GDP since 2022.
The first reading of gross domestic product (GDP) during President Donald Trump’s second term was highly anticipated, especially in light of the tariffs enacted in recent weeks. Most economists did not expect the world’s largest economy to contract in the first months of 2025, despite several indicators suggesting slower growth.
At 16 pm on Wall Street the S&P 500 is down at -1,88%, the Dow Jones is also down at -1,56% while the Nasdaq is losing 1,71%. In Europe the Dax is down at -0,68%, the FTSE 100 is down at -0,36%, while the Cac40 is down at -0,30%.
Today's data follows the International Monetary Fund's estimate in last week's World Economic Outlook that U.S. GDP would rise 1,8% this year, down from January's estimate of 2,7%.