Washington (dpa-AFX)-The US economy has started the year weaker than previously known. In the first quarter, the gross domestic product (GDP) fell to the previous quarter of 0.5 percent, as the Ministry of Commerce announced on Thursday in Washington, according to a further estimate. In a previous survey, only one decline was determined by 0.2 percent. On average, economists had expected confirmation. In the fourth quarter, the largest economy in the world had increased by 2.4 percent.
The aggressive customs policy of US President Donald Trump is only partially reflected in the data. Trump had only announced his tariffs compared to almost all countries in the world in early April. For China and the European Union, they were temporarily partially withdrawn. The United States has now completed a trade agreement with Great Britain.
In the United States, data on economic growth is given annualized, i.e. calculated for the year. They state how strongly the economy would grow if the pace continued for a year. This method is dispensed with in Europe, which is why the numbers are not directly comparable to each other. To get a growth rate compared to Europe, you would have to share the US rate through four./JKr/la/mis