[ClearCase_guy]

Economy shrinking 2.9% ... it will certainly be unexpected if next quarter takes us into an official recession.

Although, I suspect that simply won’t be allowed by the statisticians.

[Hoodat]

That's the reason they 'downgraded' Q1 from -1.7% to -2.9%. It gives them enough cushion to report positive growth in Q2. It goes something like this:

Actual numbers:
Q1 | -1.7%
Q2 | -1.1%
Total | -2.8%

Two consecutive quarters of decline = Recession

Revised numbers:
Q1 | -2.9%
Q2 | +0.1%
Total | -2.8%

One quarter decline followed by one quarter growth = No Recession

[Cementjungle]

Economy shrinking 2.9% ... it will certainly be unexpected if next quarter takes us into an official recession.

Congress will probably give Obama his billions to help absorb the onslaught of illegals, and the spending of that money will help make the GDP look better. He's probably also sending billions to the "rebels" in Syria and Lord knows where else... all of which will make the economy appear to be doing something.