The U.S. economy shrank at a 0.7 percent annual rate!!!!!

News from The Associated Press:
"WASHINGTON (AP) -- The U.S. economy shrank at a 0.7 percent annual rate in the first three months of the year, depressed by a severe winter and a widening trade deficit.
The government's revision for last quarter was weaker than its initial estimate of a 0.2 percent growth rate.
The U.S. trade gap - the difference between the value of exports and the larger value of imports - was found to be wider than first estimated.
And consumer spending was slower than previously thought."