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28th Apr 2025 17:41USDaily Monitor

  • An unprecedented surge in the goods trade deficit in Q1 points to a huge drag on GDP growth.
  • We think GDP fell by about 1%, but total private sector demand likely still rose at a healthy rate.
  • The looser labor market points to much lower wage growth and underlying services inflation ahead. 

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Keywords for: 30 April 2025 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence