First quarter GDP shrank 1 percent

One of the hardest things in economics or, dare I say it, life in general is separating signal from noise and information that matters from information that doesn't matter.

Today, a new revised estimate of GDP showed that the U.S. economy contracted in the first quarter of 2014, down 1 percent:

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.