US Economy Shrank By 1% In The First Quarter: First Contraction Since 2011 | Zero Hedge:
"....the first quarter GDP "grew" by a revised -1.0%, down from the +0.1% first estimate, and well below the -0.5% expected, confirming that while economists may suck as economists, they are absolutely horrible as weathermen.
This was the worst print since the -1.3% recorded in Q1 2011.
Bottom line: for whatever reason, in Q1 the US economy contracted not only for the first time in three years, but at the fastest pace since Q1 of 2011.
It probably snowed then too.
The breakdown by components is as follows:"