U.S. corporate profits fell significantly in the first quarter of 2025, dropping 118.1 billion U.S. dollars following a 204.7 billion U.S. dollars increase in the previous quarter, according to the U.S. Department of Commerce's Bureau of Economic Analysis.
Data released by the bureau on Thursday showed that consumer spending, the main driver of economic growth, grew by only 1.2 percent in the first quarter, significantly below previous expectations.
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US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
The decline in automobile sales, along with reduced spending on services such as health-care and insurance, showed underlying weakness in consumer demand, said the bureau.
The U.S. government's tariff policies have led several American companies, including retail giant Walmart, to warn that consumers may soon see price increases.
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
More than a month ahead of the Chinese New Year, restaurants across China have reported a booming demand for reunion dinners, with popular places already fully reserved.
The family reunion dinners on the eve of the Chinese New Year, or the Spring Festival, is the most important meal of the year for Chinese people. It has long been an essential part of celebrating the Chinese New Year. This year, the festival falls on Feb 17.
In Taiyuan, capital city of north China's Shanxi Province, one restaurant said all tables for the Chinese New Year's Eve dinner have been reserved.
"We now have 36 private rooms and 13 tables in the hall. The New Year's Eve dinner is fully booked. Many families started reserving as early as November 2025," said Han Huiyan, a restaurant manager.
To meet the demand, many restaurants start to offer takeaway banquet package that can be easily prepared at home, allowing families to enjoy a variety of festive dishes without dining out.
In Ningbo, a city in east China's Zhejiang Province, many popular restaurants said that they are approaching full reservation levels. To reduce peak demand, some restaurants now offer off-peak reunion dinners starting later at night.
"We now offer a 'second round' of New Year's Eve dinners, which start at 19:30. We also offer discount for such New Year's Eve dinners, a promotion of 20 percent off set menus," said Sun Lijuan, a restaurant manager.
In Lianyungang, a city in east China's Jiangsu Province, smaller private rooms of a local restaurant have been nearly sold out, and customized menus and home-delivery services have drawn strong interest.
"This year we have specially launched the Chinese New Year's Eve dinner delivery service. Bookings are very strong and customers really like this option," said Geng Maoran, a restaurant general manager.
Restaurants see surge in bookings for Chinese New Year's Eve dinners
