This weeks economic data continued to find the seasonal adjustment factors are not working properly. In most cases, if you compare the current data to pre-Great Recession data – one conclusion can be drawn. While if you compare the data to New Normal, another conclusion can be drawn. Industrial Production data was particularly effected.
An economic index based on real-time diesel fuel consumption data fell 1% in August 2010 while Econintersect’s analysis of the unadjusted noisy data believes the index was unchanged.