Honestly, no. The administration is not subtle with its lies. If they want to fib, they do it out of POTUS's mouth at a podium, and it's a huge whopper that just dares the nasty liberal media to try to call it out. The strategy works for them, and they apply it repeatedly.

They don't just fudge numbers a bit. This is a bad number for them because it's probably the correct (or best available, really) number produced by the existing bureaucracy that does things via the same rules it always has. Doesn't mean it won't be revised later (note that there's also a big downward revision in this report of previous numbers). But it's likely trustworthy.

Along with Big Lie polemics, you also need to recognize that the administration is very sensitive to market motion (sort of a variant kind of democracy, I guess). And markets HATE when the government messes with the economic regulatory aparatus.