Understanding the Slump in Economic Figures

A Closer Look at the Early 2025 Economic Decline

During the initial quarter of 2025, the U.S. economy experienced a contraction. The Commerce Department announced on Wednesday that from January through March, the nation's gross domestic product saw a reduction at an annualized rate of 0.3%.

For further insights, CBS News' Kelly O'Grady and Ed O'Keefe delve deeper into the reasons behind these declining numbers.