if the economy shrinks by 0.05% on the Sunday before thanksgiving, you could annualize that by multiplying by 365 and getting an 18.25% shrink in the size of the American economy on that day.
It would be an extremely false statement to write, "The U.S. Economy contracted by 18.25% on Sunday before Thanksgiving", which is how our title reads. ("The economy shrank almost 3 percent in Q1").
The number 3% doesn't appear anywhere, just as the number 18.25% doesn't appear anywhere. sp332's very good point is that it should include the word "annualized" or read "0.7%". A huge difference!
It would be an extremely false statement to write, "The U.S. Economy contracted by 18.25% on Sunday before Thanksgiving", which is how our title reads. ("The economy shrank almost 3 percent in Q1").
The number 3% doesn't appear anywhere, just as the number 18.25% doesn't appear anywhere. sp332's very good point is that it should include the word "annualized" or read "0.7%". A huge difference!