For years we have complained against both the BLS’ and the BEA’s comical seasonal adjustments, which “serve” just one purpose: to goalseek the data to a desired, politically-mandated outcome, and which culminated last May when the Department of Commerce announced it would seasonally adjust last year’s woeful Q1 GDP data not once but twice in order to get a better result. Now, it appears that there indeed was a problem: government statisticians announced that they have found “evidence that efforts to adjust the country’s measure of economic growth for seasonal fluctuations have not been fully successful.”
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