Once again, the planet can breathe a sigh of relief. After making further observations of asteroid 2003 QQ47, astronomers now say there is no threat from this rock. It has been downgraded to a zero (0) on the Torin scale, which says, "The likelihood of a collision is zero, or well below the chance that a random object of the same size will strike the Earth within the next few decades. This designation also applies to any small object that, in the event of a collision, is unlikely to reach the Earth's surface intact."
While this particular asteroid appears to not be a threat to Earth at this time, the Near Earth Object Program and other agencies continue to monitor space for other threats. After all, it is a big universe, and there are a lot of asteroids and comets out there.