US GDP Shrinks 0.3% in Q1! Trump Blames Biden for Economic Woes
The US GDP in the first quarter of 2023 shrank by 0.3%, a figure that not only fell below market expectations but also marked the lowest level since the second quarter of 2022. The stock market opened sharply lower, with the Dow Jones Industrial Average dropping over 780 points at one point. Trump attributed this economic downturn to 'poor numbers' left by Biden.
In social media posts, Trump stated that the new tariff policy would soon take effect, prompting companies to return to the US at record levels. He emphasized that despite the current economic weakness, America would prosper if patience is exercised. Although the unemployment rate remains relatively low, reports suggest that should the labor market, consumer spending, and business investment continue to decline, the economy may officially enter recession.
