THE BASIS POINT

Making Down Look Like Up

 

Chicago Federal Reserve (April 2012)
– Index of National Activity +0.11.

– Previous was -0.44 revised from -0.29.

– This is another case where only revising previous data makes the latest data look good.

– Moving the previous down .15 means that the net was 0.04 worse than previous.

– 3 Month Moving Average -0.06

 

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