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December and January's employment data was revised to show 15,000 fewer jobs added than previously estimated, but details of today's report were solid.
The previous week's jobless claims data was revised up to 368,000 from the previously reported 366,000.
The G.D.P. data was revised going back to 2003, showing the recession was deeper and the recovery weaker than originally thought.
However, October's data was revised downwards, from the original blowout estimate of 171,000 to 138,000, and September's non-farm payroll was also trimmed a little (from 148,000 to 132,000).
Note: The industry sales data reported by Statista was not identified by that source as representing only manufacturer sales, so market share data was revised to account for a typical keystone markup to retail.
The prior week's data was revised up to 404,000 from the previously reported 402,000.
Similar(50)
Over all, the new figures are in line with a trend often seen when the data is revised: "Benchmark revisions are in the direction of the inflection," said Robert Barbera, the chief economist of ITG.
Third-quarter data were revised down, turning a 0.1% increase in output into a 0.3% decline.
In particular, conclusions vary considerably from year to year as data are revised and as the accumulation of observations after purported breaks changes initial perceptions.
All numbers for the recent recovery are likely to change as data are revised, even if October does turn out to be the month the economy peaked, and the revisions could make the performance look better.
The government's economic data is revised every month as new information becomes available, but the changes are rarely so large or present such a different picture of the economy from the initial snapshot.
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CEO of Professional Science Editing for Scientists @ prosciediting.com