Exact(13)
The Labor Department, in annual revisions this week, had lowered the December increase from 0.3percentt.
Those data, themselves subject to annual revisions, are fed into calculations of national output.
But the department's annual revisions to previous figures contained still worse news.
Today's Commerce Department report also included the government's annual revisions to earlier data, and they showed that the economy actually grew 4.1percentt, not 5percentt, last year.
Though annual revisions to the jobless claims back to 2006 showed slightly higher readings for recent weeks than previously estimated, the downward shift remained intact.
It hasn't been talked about much, but this Thursday the Labor Department will release its annual revisions to the job figures, covering the period from April, 2010, to December, 2011.
Similar(46)
An annual revision, announced yesterday, resulted in small changes in earlier months, most of them upward.
Then last week the government announced its annual revision to the numbers for the last several years.
For 2009, 2010 and the first quarter of 2011, that's the annual revision published last summer.
But that is what Apple was thinking when it introduced its annual revision of the popular iPod family last week.
The August Survey of Current Business will contain an article that describes the annual revision in detail.
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