1st Quarter GDP numbers were revised downward from -5.5% to -6.4%. This means that the economy did worse than previously thought. So how did the media report this?
NY Times- US Economy shrank less than expected in quarter
Obama: Economy has stepped away from precipice
Dollar falls versus Euro as US economy shrinks at slower pace
Well apparently the europeans and asians actually read the first page of the report instead of listening to the US media.