Ever notice how the government will revise a figure weeks after it first hits the headlines? Recently these revisions have been drastically on the negative side and rarely receive the amount of media attention as the initial, much rosier figures. Case in point: the surprise increase in February retail sales. Michael Panzner reveals why the numbers were so good:
Absent the [January] revision, the February numbers would have constituted a decline.
After boobus absorbs how much better they want you to believe the economy is getting, watch for a quiet February downward revision to make March look even better.