Productivity is tied to worker wages, so a drop can be cause for concern.
There are extenuating circumstances, namely the rush to import goods before tariffs hit.
And there’s worse to come.
Services also account for about a third of U.S. exports.
Tariffs, uncertainty for businesses and consumer caution make a slowdown more likely, some economists say.
A January surge in imports will have a negative impact on GDP in the near term. A protracted trade war would drag down economic growth in the long run.
Cutting these jobs indiscriminately will “substantially damage the economy,” experts say.
Government spending is tied up with consumer and business spending. Not reporting it as part of GDP would breach global accounting standards.
Government spending is built into the formula for calculating GDP.
It could make the economy more vulnerable.