It is almost an axiom that data revisions almost never matter, at least not in the short run. Maybe
this one will be an exception... If you wanted to have a symbol for how bad things are turning, and how unexpected that is, consider this revision of the US GDP data for the Q4 2008, down from -3.8 to -6.2. And the forecast that we will mention this news a few times, is fairly straightforward.
It turned out to be -6.3% in the final version.
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