Jim,

>Finally, given, as you say, that such numbers are typically revised later anyway, there is no rhyme or reason for the stock market to 'react' one way or the other.

Sure there is. The market reacts to changes in core numbers that represent the fabric of business and knowing that the numbers will be revised really doesn't matter that much. The numbers are ALWAYS revised and there will be reactions to the revisions if they are large.

In other words, the markets typically take positive-sounding numbers as valid indicators due to the consistency of the reporting over the years, unlike opposition political parties, who take the numbers out of their context of years of consistent reporting.

BTW, I was not referring to you when I said "Some people" earlier.