CNBC reporting the Bureau of Economic Analysis is 'aware of issues'.
US GDP numbers could be turned upside down as the BEA works to solve a problems it has uncovered.
In a statement to CNBC, the Bureau of Economic Analysis said it's "aware of issues" in it gross domestic product data and "is developing methods to address what it has found."
One problem they have outlined is in Federal defense services spending and certain inventories. An initial round of revisions will be completed by July 30, to be incorporated into the annual benchmark revisions of GDP.
It won't change the story soon but it will give more conviction to the Fed members/traders/economists who believe the underlying economy is stronger than the numbers appear.
