Economic News: Turns out the 1st Quarter GDP was far worse that originally reported . . . . 2 points worse, into negative territory; just one quarter away from a declared "2nd recession. "

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Initial report on 1^st Q GDP (2014) was a "plus .3%. 

Second report on 1^st Q GDP  was  a minus  .3%

Amendment to the second report came in at a minus 1%. 

And now,  the bad news about the 1^st Q: 

The government reported that the economy contracted at a 1.0 percent annual rate in the January-March period. But with health care spending data now in hand, economists say growth probably declined at a rate of at least 1.7 percent.  (per CNBC:)