http://www.marketwatch.com/story/us-q1-gdp-revised-lower-to-27-increase-2010-06-25?reflink=MW_news_stmp
U.S. real gross domestic product for the first quarter was revised down to an increase of 2.7% annualized from the earlier estimate of a 3.0% rise, the Commerce Department said Friday. Economists surveyed by MarketWatch expected first-quarter growth to be unrevised at up 3.0%. The revision to first-quarter GDP was largely due to weaker consumer spending and a widening trade deficit. A key measure of inflation was revised slightly higher but remained subdued. Core prices increased 0.7% in the first quarter, up from 0.6% reported earlier. Corporate profits increased a revised 8.0% quarter-to-quarter, compared with a 5.5% rise previously estimated.
Holy cow, weaker consumer spending? How can that be when the unemployment and the percent of unemployed giving up looking for a job rate keeps going up?
What is needed is a new calulator to match the New Math. It would make 2+3=6.