Economic surveys are kind of iffy at best. Not an exact science and constantly revised after they’ve been published. However, there are revisions, and then there are REVISIONS.
Here’s a doozy:
Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
MBA Mortgage Applications | FEB 17 | - | -4.50% | -1.0% | - |
Existing Home Sales | JAN | 4.66M | 4.57M | 4.61M | 4.38M |
Existing Home Sales MoM | JAN | 1.1% | 4.30% | 5.0% | -0.50% |
How in the world do you revise a number from UP 5% to DOWN -.5%???
That’s like an airplane pilot landing in Chicago instead of New York. I have always preached to not get caught up in the numbers, but this is ridiculous.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
Street Address:
445 North Blvd, 7th Floor
Baton Rouge, LA 70802
Mailing Address:
P.O. Box 44154 Capitol Station
Baton Rouge, LA 70804-4154
Physical Location:
One City Plaza, 7th Floor
Corner of North Blvd & 4th Street
Exit 1B I-110 Convention Street,
Turn Left to get to North Blvd,
Turn Right on North Blvd
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