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Economy shrank 2.9% in
1Q, worst drop since ´09

USA Today, by Paul Davidson

Original Article

Posted By:NorthernDog, 6/25/2014 9:21:33 AM

The U.S. economy turned in its worst quarter in five years during the first three months of 2014, shrinking more sharply than previously estimated. The nation´s gross domestic product in the first quarter fell at a 2.9% annual rate vs. the 1% contraction previously believed, the Commerce Department said Wednesday. Economists surveyed by Bloomberg expected a 1.8% drop in output. The decline was the sharpest since growth tumbled 5.4% in the first quarter of 2009 during the Great Recession. The last time the economy shrank was in the first quarter of 2011, slipping 1.3%. The more dramatic drop was largely

Comments:
Tell me again why voters elected Obama?

      


Post Reply  

Reply 1 - Posted by: antiquegolf, 6/25/2014 9:52:40 AM     (No. 9899049)

So, there was a 2.9 percent retraction versus the 1 percent previously reported by the commerce department. We all knew the 1 percent figure was a politically motivated understatement, but a 300 percent upward revision is rediculous. obama´s commerce department has no credibility.

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Reply 2 - Posted by: uno, 6/25/2014 10:16:26 AM     (No. 9899091)

Just "fundamentally transforming the United States of America.” sez the Community With Impunity Organizer!
Anything to weaken America...

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R-G1
  


 
Reply 3 - Posted by: varkdriver, 6/25/2014 10:24:30 AM     (No. 9899110)

Gotta love those "revised" numbers. Funny how they never get BETTER after they´re ´revised´.

Somewhere, Mr Cloward and Mr Piven are partying HARD.

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Reply 4 - Posted by: uno, 6/25/2014 10:48:26 AM     (No. 9899172)

#3 - Francis Fox Piven is still alive and on speed-dial on the Øbamboozler´s Blackberry!

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Reply 5 - Posted by: uno, 6/25/2014 10:49:14 AM     (No. 9899174)

Oh, and female... I think

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Reply 6 - Posted by: BaseballFan, 6/25/2014 11:13:37 AM     (No. 9899229)

Yeah, that Barry, he´s historic, all right.
/s off/

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Reply 7 - Posted by: ZurichMike, 6/25/2014 12:00:36 PM     (No. 9899300)

Yeah, but the doctored unemployment rate is good -- until it´s revised showing even more people permanently leaving the workforce or pretending to be disabled to collect entitlements.

Yeah, but the stock market is doing well -- until it collapses again.

Yeah, but ObamaCare is a huge success -- until stories leak out about the continuing mess it was always known to be.

Yeah, but America is a respected international player, until we see how the islamofascists sold Obama, Clinton, and Kerry a bill of goods and Americans died.

Yeah, but . . .

Oh, you get the point.

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