GDP Was Negative for Last Quarter of 2012

The economic output of the United States contracted by 0.1% in the last three months of 2012. What does that mean, exactly?

First, it's bad. The lone bright spot was that consumer spending was strong. I'd love to see how much of that consumer spending was on guns and ammo.I know I'm doing my part on that front. By the by, if we have another consecutive negative GDP number this quarter, it's officially a recession.