They also said it was the best month since 2017.
That was, of course, a seasonal adjusted fictional number designed to make you believe that that was the actual monthly change. But, as you know if you’ve been reading these pages at all, it wasn’t. It was statistical hocus pocus designed to smooth out the normal, and abnormal, fluctuations that happen every month. In addition, it’s subject to 7 revisions over 5 years, until the number is ultimately finalized. That first revision the following month is often huge.