The “Mondays with Dr. Joe” for May 23 will have detailed discussion about the annual revisions made by the Commerce Department. The years 2008 through 2013 had slight revisions higher; the end of 2013 to present had slight revisions lower. The chart shows the differences. The rule of thumb is that annual shipments were increased about +$1 billion per year for the few years leading up to 2013 and down -$500 million per year thereafter. The column of May 23 will also have revised statistical forecasts to 2021 based on these updated data. The Commerce Department's revisions to all manufacturing data are leading up to a multi-year revision of GDP data at the end of July.
