[mykroar]

although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate that showed an economic contraction

So now we can officially hold off the double-dip for another quarter.

[khelus]

In the following chart the blue line shows real GDP deflated by an index that measures the cost of a set standard of living. Note the GDP includes government spending which has been increasing as a percent of the GDP.

For those who are interested the PCE that is being used is an index that is pure substitution effect.

[Nip]

“The slowest growth rate since the first quarter of 2011.”

Excuse me, how far back are we talking about, “the first quarter of 2011”? Wasn't that just 12 months ago? Aren't we looking at the economic reports based on economic activity from the first quarter of 2013?

Did I miss significant economic growth that occurred between January 2012 and September 2012 (the second, third, and fourth quarters of 2011)?

I guess the writers from Fox News finally replaced the cold waters of reality with the kool aid coming out of the Beltway.

[Uncle Miltie]

The book-cookers are scrambling to avoid another recession.

Two quarters of contraction (used to, anyway) defines a recession. They squeaked by this one.