[xzins]

There has to be a previous number from which the GDP contracts to show that it has fallen or from which it expands to show that it has risen.

Wouldn’t that be the previous quarter’s number?

[Wyatt's Torch]

Both potentially. Here is the FRED chart that still shows the last 1Q14 number so you can see it fall:

When they revise their data later this morning you will see it go up. The headline numbers though are YOY not sequential.