Here's what to know as new report shows the U.S. economy shrinking

Here's what to know as new report shows the U.S. economy shrinking

New numbers show the U.S. economy got smaller in the first three months of 2025. It’s the first time it’s happened since the pandemic. Many economists blame President Trump’s tariffs for the decline in GDP, but the president said it’s not his fault. CBS News’ Weijia Jiang has more.

Truth Analysis

Factual Accuracy
4/5
Bias Level
3/5
Analysis Summary:

The article is mostly accurate, stating the U.S. economy shrank in the first three months of 2025. It attributes blame to President Trump's tariffs, which aligns with some sources, and mentions the President's denial. The main bias stems from attributing blame without presenting alternative perspectives.

Detailed Analysis:
  • Claim:** "New numbers show the U.S. economy got smaller in the first three months of 2025."
    • Verification Source #5: Supports this claim, stating "...a new report shows the US economy shrank at an annual..."
  • Claim:** "It's the first time it's happened since the pandemic."
    • Lack of Coverage:* None of the provided sources directly confirm or deny this specific claim. Internal knowledge suggests this is plausible, as there were economic downturns during the pandemic, but this requires further verification beyond the provided sources.
  • Claim:** "Many economists blame President Trump's tariffs for the decline in GDP..."
    • Lack of Coverage:* While Verification Source #5 mentions Trump praising tariffs, it doesn't explicitly state that "many economists" blame the tariffs for the GDP decline. This is an attribution that requires further verification.
  • Claim:** "...but the president said it's not his fault."
    • Lack of Coverage:* Verification Source #5 implies this by stating "Trump praises tariffs," suggesting a different perspective on the economic situation. However, it doesn't directly quote or paraphrase the president denying fault.
Supporting Evidence/Contradictions:
  • Verification Source #5: Supports the claim that the U.S. economy shrank.
  • Lack of Coverage:* The provided sources do not offer comprehensive support for the claims regarding the specific reasons for the economic shrinkage or the President's exact response.
  • Internal Knowledge:* The claim that it's the first time the economy has shrunk since the pandemic is plausible, but requires further verification.