{"id":1052631,"date":"2025-04-30T12:58:52","date_gmt":"2025-04-30T16:58:52","guid":{"rendered":"https:\/\/democrats.org\/?p=1052631"},"modified":"2025-04-30T12:58:52","modified_gmt":"2025-04-30T16:58:52","slug":"new-report-trumps-leading-us-into-a-recession-shrinking-gdp","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-trumps-leading-us-into-a-recession-shrinking-gdp\/","title":{"rendered":"NEW REPORT: Trump\u2019s Leading US into a Recession, Shrinking GDP"},"content":{"rendered":"\n
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In response to new reports on the economy shrinking under Trump,<\/em> DNC Chair Ken Martin released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump has spent his career bankrupting business after business, and now he is dragging our country towards a recession and shrinking the economy for the first time in years. While Trump weakens America on the world stage, working families are left with the bill \u2014 prices are skyrocketing, retirement funds are tanking, and Americans are bracing for a serious \u2018Trump recession.\u2019 Trump spent his campaign lying about promises of an economic \u2018golden age,\u2019 but the American people know a phony deal when they see one. It\u2019s no surprise Americans have turned on Trump and his failing agenda.\u201d <\/p>\n\n\n\n

NEW: Trump\u2019s unaffordable agenda is shrinking the economy. <\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cU.S. economy shrinks at 0.3% rate in first Trump-era GDP report\u201d<\/strong>  <\/p>\n\n\n\n

\u201cIt\u2019s the first contraction in three years<\/strong>, a sign that the economy was softening before the highest tariffs took effect. \u2026 <\/p>\n\n\n\n

\u201cThe headline figure is a dramatic turnaround from the 2.4% growth rate in the final months of 2024.<\/strong><\/p>\n\n\n\n

\u201cIt is the weakest GDP print since the same period in 2022<\/strong>, when the economy contracted at a 1% annualized rate, similarly weighed down by volatile categories like trade and inventories.\u201d <\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Q1 GDP was] well below average growth of about 3% in the prior two years\u201d<\/strong>  <\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cThe reading fell short of the 0.4% growth that economists surveyed by The Wall Street Journal expected.<\/strong><\/p>\n\n\n\n

\u201c[B]usinesses and individuals are saying they are worried about the economy<\/strong>, due to uncertainty around tariffs and worries they will bring higher prices.\u201d <\/strong><\/p>\n\n\n\n

While Trump shrinks the US economy, other countries are booming and leaving America in the dust. <\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cData on Wednesday showed China\u2019s gross domestic product (GDP) grew 5.4%<\/strong> in the January-March quarter from a year earlier, unchanged from the fourth quarter, but beat analysts\u2019 expectations<\/strong> in a Reuters poll for a rise of 5.1%.\u201d  <\/p>\n\n\n\n

Toronto Star<\/a>: \u201c[The Canadian economy\u2019s] annualized growth rate for the first quarter <\/strong>based on the March flash estimate is 1.5 per cent.\u201d<\/strong> <\/p>\n\n\n\n

EuroNews<\/a>: \u201cThe eurozone economy grew 0.4% in Q1 2025, doubling the previous quarter\u2019s pace and beating forecasts.<\/strong> Ireland led growth, followed by Spain, while Germany rebounded.\u201d   <\/p>\n\n\n\n

REMINDER: Economists and business leaders are sounding the alarm on a looming \u201cTrump recession.\u201d <\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cThe S&P 500\u2019s performance since Inauguration Day [through Trump\u2019s first three months] is now the worst for any president up to this point in data going back to 1928, according to Bespoke Investment Group.\u201d<\/strong><\/p>\n\n\n\n

The Telegraph<\/a>: \u201cEconomists are starting to worry about a serious Trump recession\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cU.S. Faces Recession This Year, IIF Says\u201d<\/strong><\/p>\n\n\n\n

Redfin News<\/a>: \u201cNearly one in four U.S. residents are canceling plans to make a major purchase, such as buying a home or car, because of President Trump\u2019s tariff policies, according to a Redfin survey.\u201d<\/strong><\/p>\n\n\n\n

Americans are fed up with Trump and overwhelmingly rejecting his failed economic agenda. <\/strong><\/p>\n\n\n\n