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.
The July 2010 business sales look stronger when compared to 2005, 2006 and 2007. When compared to 2008 and 2009, the data looks weaker. Is the 2008 and 2009 sales the new normal or simply the result of a recession?