Nothing To See In The Economic Data. Please Move Along.

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The government is shutting down its online clearing house of U.S. economic data. EconomicIndicators.gov is maintained by the Economics and Statistics Administration of the Department of Commerce. It brings together data from various government agencies in one convenient place. Readers can see GDP and import-export figures, which are collected by the Bureau of Economic Analysis, and numbers for retail sales and durable goods shipments, collected by the Census Bureau.
Or, rather, they could. It seems that the government is shutting the site down “due to budgetary constraints.” This is being described by many as move to make it more difficult for the public to see just how bad the economy has become. “The Bush administration’s latest move is to simply hide the data,” Think Progress writes.
Barry Ritholtz says it reminds him of the government’s refusal to publish figures for M3, a measure of the money supply. Many suspect that this has allowed the government to inflate the money supply without informing the public. “This new development implies (by parallel comparison to M3) that the economy is actually far, far worse than previously believed,” Ritholtz writes.

Bush Administration Hides More Data, Shuts Down Website Tracking U.S. Economic Indicators
[Think Progress]
WTF? Feds Shutting Down Economic Data Site [The Big Picture]

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