Better than a poke in the eye with a sharp stick: U.S. GDP growth revised up to 1.1% in the first quarter

This morning the Commerce Department announced that it had revised its estimate for first quarter GDP growth up to 1.1%, from an earlier estimate of 0.8%. This is the last of three estimates for first quarter GDP. The median projection for this revision of first quarter GDP growth by economists surveyed by Bloomberg called for 1.0% growth.