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US Economy Contracted Sharply To Start 2025 - Worse Than Previously Thought, Record Territory, Inflation Expectations Fall In New York Fed Survey

Martin Eiden | June 28, 2025

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US Economy Contracted Sharply To Start 2025 - Worse Than Previously Thought

The U.S. economy shrank by 0.5% in the first quarter of 2025, the Bureau of Economic Analysis said, revising down its previous estimate of a 0.2% drop. It’s the sharpest, ugliest contraction since the height of the COVID-19 pandemic and a stark reversal from 2.4% growth in the fourth quarter 2024. (Full Story)

Record Territory
The three major U.S. stock indexes surged around 4% for the week as falling oil prices and easing trade tensions boosted investor sentiment. The S&P 500 on Friday eclipsed a record high that it had set four months earlier while the NASDAQ topped a record reached last December. The Dow remained nearly 3% below its historic peak. (Full Story)

Inflation Expectations Fall In New York Fed Survey

Consumers expect lower inflation over the next year than they did a month ago, the New York Federal Reserve found in its latest survey.

Over the next 12 months, consumers expect prices to rise 3.2%, down by 0.4 percentage point from a month ago, according to the May edition of the New York Fed's survey of consumer expectations.

(Full Story)

Team News

A Summer Evening at the Morris B Sanders House

A rare opportunity to visit one of New York’s earliest and most significant Modern townhouses: A Summer Evening at the Morris B Sanders House.

This event was designed to allow the public to experience what an incredible, important, and impactful landmark this townhouse has become.

It is the second oldest Modern townhouse in the city, with one block and one year between it and the oldest—the Lescaze house. Morris Sanders designed the townhouse, located on 49th Street between 2nd and 3rd Avenue, in 1934 for his own use and construction was completed in December 1935. The house garnered swift and wide media coverage including a 10-page feature article Architectural Forum.

It is also available for sale and can be your price of New York history for $4,995,000

Learn more about this home by clicking here.

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