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The U.S. trade deficit narrowed in April by the most on record on the largest-ever plunge in imports, illustrating an abrupt end to the massive front-loading of goods by some companies.

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business.

The U.S. merchandise-trade deficit unexpectedly widened in March to a record as companies continued importing goods to get ahead of tariffs, indicating a large hit to the economy in Q1.

The American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said.

WASHINGTON — The American economy ended 2024 on a solid note with consumer spending continuing to drive growth.

Gross domestic product increased at a 2.8% annualized pace in the third quarter, the second estimate of the figures from the Bureau of Economic Analysis showed Nov. 27.

WASHINGTON — The economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Sept. 26.

WASHINGTON — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Aug. 29.

WASHINGTON — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of high interest rates.

WASHINGTON — The nation’s economy slowed last quarter, growing at an annual rate of 1.6% in a sign that the high interest rates may be taking a toll on borrowing and spending.