"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Monday, November 1, 2010

Construction Spending: Census Bureau and Commerce Department continue their struggle with adding and subtracting

Welcome to the U.S. Census Bureau/
Department of Commerce.

Common headline of the day: Construction Spending in U.S. Unexpectedly Rose in September. Of course the number unexpectedly rose given the continual downward revisions of the U.S. Census Bureau/Department of Commerce.

August 2010 construction spending was initially reported at $811.826 billion then revised to $797.457 billion in today's report. Due to the usual overstatement in the initial report, September construction spending beat August.

Do you really think August was an abnormality with respect to measurable downward revisions?

Current Revised/Initial Report/Month
  • $797.457 billion/$811.826 billion/ for August
  • $798.752 billion/$805.159 Billion/ for July
  • $820.198 billion/$$836.012 billion/ for June
  • $819.702 billion/$$841.888 billion/ for May
  • $869.088 billion/$834.148 billion/ for April
  • $824.023 billion/$847.300 billion/ for March
  • $815.797 billion/$846.200 billion/ for February
  • $841.040 billion/$884.100 billion/ for January
According to the crack number crunching staff of the U.S. Census Bureau/Department of Commerce, construction spending in September 2010 increased 0.5% over August 2010. The predictable lemming-like behavior of the U.S. stock market launches on the perception of great news. CNBC will likely not dig into the Commerce Department's report given all is not yippee and Erin's glass will not be 1/2 full.

Total September Construction is down 10.4% year over year. Total Residential construction is down 5.3% year over year and total Non-Residential construction is down 12.4% year over year. Total PRIVATE CONSTRUCTION is down 16.8% year over year.

Total construction spending for September 2010 remains lower than January through June 2010. Thank God for the government as total Public Construction is up 1.4% year over year.

Welcome to how the U.S. Government assists with launching the market; throw out a figure beating expectations, crank up Queen's "We Are the Champions" as the stock market launches and quietly revise the figure below initial expectations during the next 60 to 90 days. Census Bureau Remedial Math Reports

I've paid my dues -
Time after time -
I've done my sentence
But committed no crime -
And bad mistakes
I've made a few
I've had my share of sand kicked in my face -
But I've come through

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