Recent reports indicate that the US economy has experienced a contraction of 0.5% in the first quarter, significantly worse than earlier estimates of a 0.2% decline. This marks the first negative GDP growth in three years, raising concerns about an economic slowdown influenced by rising inflation and a surge in imports ahead of tariffs. The revised GDP figure comes as jobless claims decline, but uncertainty remains regarding the overall economic outlook. Financial experts suggest that while a slowdown is evident, a recession may not be imminent.