US DATA: Fed ind’l production (IP) revisions now Feb.

US DATA: Fed ind’l production (IP) revisions now show Feb flat and
Jan +0.2%. Revisions affect Jan 1972 to Feb 2011, but Fed says the most
significant effects are in 2008-10. “Measured from fourth quarter to
fourth quarter, total IP is now reported to have declined 1.4 percentage
points and 1.7 percentage points more sharply in 2008 and in 2009,
respectively, and to have risen 0.5 percentage point more rapidly in
2010. That said, the broad contour of total IP in recent years is
similar to previous estimates, and the dates of the recent peak
(September 2007) and the recent trough (June 2009) are unchanged.”