The US Bureau of Economics Analysis wiped $110 billion off US GDP on July 30. The US economy is now officially smaller than we thought. Specifically consumption and government spending estimates were cut for 2012 and 2013. 2013 endured the most significant downward revision with annual GDP growth now reported to have grown just 1.5% vs the previous BEA estimate of 2.2%. How does the US economy now compare to its developed peers and what if any are the implications for commodity markets?