Riddle me this...

I have links below to source the material but here is one that might have kept the Sphinx whole...

The nominal GDP growth for 1Q2008 was $119.6 billion, represented as a real annualized GDP growth rate of 0.9%.

The nominal growth for 2Q2008 was $105.7 billion, represented as a real annualized GDP growth rate of 1.9%.

A nominal decline QoQ of 11.6% is equal to a real annualized QoQ increase in rate of 111% - that is some change in deflator kids! Can anyone clearly define what state change occurred to make that kind of change in the deflator? Anyone? Buehler?


http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
GROSS DOMESTIC PRODUCT: Second Quarter 2008 (Advance)
[snip]
Current-dollar GDP
Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 3.0 percent, or $105.7 billion, in the second quarter to a level of $14,256.5 billion. In the first quarter,current-dollar GDP increased 3.5 percent, or $119.6 billion.
[snip]

http://www.bea.gov/newsreleases/national/gdp/2008/tech208a.htm
Technical Note Gross Domestic Product, Second Quarter of 2008 (Advance), July 31, 2008
[snip]
Real GDP
Real GDP increased 1.9 percent (annual rate) in the second quarter (that is, fromthe first quarter to the second), following an increase of 0.9 percent (revised) inthe first quarter.
[snip]