PitchBook：2025年第二季度美国私募股权市场量化研究报告：市场洞察（英文版）

Real GDP contracted at an annualized rate of 0.3% in Q1 2025, the first declinesince 2022. However, the headline figure was skewed by a surge in imports, asbusinesses and consumers accelerated purchases ahead of expected tariff hikes.This effect is likely to reverse as inventories are depleted and firms explorealternative production channels domestically (pages 5 and 6).

The Fed is navigating a delicate balance between the risks of rising unemploymentand persistent inflation, opting to