Last week, Commerce revised its numbers again to reflect even greater pessimism. The Commerce Departments quarterly services survey, released last Wednesday, overhauled its original May 29 report to accommodate first-quarter health care spending data and found it had underestimated the GDP contraction by almost half.
The revised figure estimates that the U.S. economy shrank during the first three months of 2014 by 1.7 percent. Commerce had reported on May 29 that American GDP had shrunk by an alarming 1.0 percent.
http://personalliberty.com/commerce-department-says-first-quarter-gdp-shrank-first-reported/
saveamerica wrote:
Last week, Commerce revised its numbers again to reflect even greater pessimism. The Commerce Departments quarterly services survey, released last Wednesday, overhauled its original May 29 report to accommodate first-quarter health care spending data and found it had underestimated the GDP contraction by almost half.
The revised figure estimates that the U.S. economy shrank during the first three months of 2014 by 1.7 percent. Commerce had reported on May 29 that American GDP had shrunk by an alarming 1.0 percent.
http://personalliberty.com/commerce-department-says-first-quarter-gdp-shrank-first-reported/Last week, Commerce revised its numbers again to r... (
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It's still possible that it is worse than that. We all know that Obama is milking the numbers every way he can.
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