#Economy & #Stocks Review - Manufacturing Is Back With A Big Caveat

E&S Review

Much of today's economic data, including officially collected and produced time series, is highly unreliable. Statisticians use well-documented techniques such as geometric smoothing, seasonal adjustments, substitution, double counting, and hedonic adjustments to modify economic outcomes dating back to the 1980s. Politicians and central bankers often leverage these techniques for political gain.

Data manipulated by these statistical methods are frequently revised without clear notification to the public, especially when administrations or public policies change.

Subscriber Comments

Manufacturing Is Back With A Big Caveat

ISM Manufacturing came in at 52.4 in February, easing from 52.6 in January. While still above the 50 expansion threshold and ahead of the 51.8 consensus estimate, a surface-level reading might suggest that manufacturing has rebounded.

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