Commentary 
First-quarter GDP (gross domestic product) numbers are among the most confusing numbers the government has ever produced. The only two clear conclusions we can draw are that inflation continues to soar and the economy is in serious trouble.
Let’s first clear up some confusion. The numbers show real growth declining in the first quarter after soaring at a 7 percent annual rate in the fourth quarter. This dramatic swing in economic growth never really occurred. It is exaggerated by the way the government calculates growth. Large swings in inventories and other factors can add or subtract from what is happening in the economy and provide a misleading impression of what’s happening.
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