GDP Fell 0.3% 1Q-25, Surprising Forecasters; Income And Consumer Spending Rose In March; PCE Prices Mixed

The Bureau of Economic Analysis released the “advance” estimate of real (deflated) growth of gross domestic product for 1Q-25 and the monthly analysis of income and consumer spending trends, both on April 30. A 0.3% decline in real GDP surprised economists, who had predicted 0.5% (Blue Chip Economic Indicators) or 0.4% (Wall Street Journal) growth….