31 March 2025 US Monitor Tariffs will be too small to drive a sustained downturn in consumption
27th Mar 2025 18:03USWeekly Monitor
- GDP looks set to grow at a mere 1% pace in Q1, following February’s weak consumption data.
- Fading pre-tariff frontrunning, however, explains the slowdown; core services spending is still rising.
- Tariffs will weigh on real income growth by less than 1%; recession remains unlikely.
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