Bruce, if that was a reply to me, that was exactly my point.
Maybe I'm reading this wrong but I don't think so.
Quote:
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However, much of the strength came from a big jump in the cost of petroleum and other energy prices, which pumped up orders at oil refineries and chemical plants. The orders figures are not adjusted for changes in prices.
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As I read it, the situation was something like this (simplified of course):
In September, people bought 1 million gallons of gas for $1 each = $1,000,000.
In October, people bought 1 million gallons of gas for $1.05 each = $1,050,000.
Thus
by value sales were up 5%. By volume they were flat.
It was the change in price that caused the "growth". This was why this passage was introduced with "however" - because it is taking the shine off apparently good news. And also why they mentioned that the figures aren't adjusted for changes in prices.
That's my reading. Anyone?