Interesting note from FT Alphaville mirroring some of my own thoughts regarding the seasonal adjustments we are seeing and one reason I prefer to use to non adjusted data with year on year and month to month year over year historical comparisons (i.e. November over October compared to November over October at different points in time).  I also think that with the tremendous uncertainty we are seeing and the slow economic growth that consumer and manufacturing patterns are more likely to be behaving out of character, even if only marginally so.

Cover transfers and the SMP