The US economy shrank slightly less in the beginning of the year than previously reported, new data shows, but it was still the first quarterly decline since 2022, in a sign of how President Donald Trump’s chaotic and aggressive tariff regime is affecting American consumers and businesses.

Sweden's gross domestic product shrank 0.2% in the first quarter of 2025 from the previous three month period and grew 0.9% compared to the same quarter a year earlier, final figures from the Statistics Office showed on Friday.

Key Takeaways The U.S. economy shrank 0.2% in the first quarter, less than the 0.3% initially reported by the Bureau of Economic Analysis.The decline in economic growth was mainly due to a surge of imports as people rushed to buy things from abroad before President Donald Trump's tariffs kicked in.