Last week, we saw an unusual revision in new claims data, not just for the previous week, but in months of prior releases, with
upward revisions averaging about 10,000 in the most recent reports (e.g. the Feb 25 figure was revised from 354,000 to 373,000).
Not exact matches
Trading at 18.1 times $ 154 in 2018 earnings, assuming the
upward estimate
revisions continue, the S&P 500 remains at a P / E above its historical
averages, just perhaps not as high as it looked previously.
In terms of supply, OPEC noted that non-OPEC supply in 2016 was expected to contract by 610,000 barrels a day following an
upward revision from last month's report, to
average 56.32 mb / d.
However, payrolls data for March showed an increase of 308,000 jobs, with
upward revisions to earlier months resulting in an
average increase over the previous couple of months of around 100,000 jobs (Graph 3).
Along with an
upward revision to June's already - robust number, the latest figures left
average monthly job gains so far in 2017 at 185,000, close to the strong pace set in 2016.