Expectations Are Moderating, But The Economy Is Doing Fine
Month after month in late 2016, the economy kept surprising investors on the upside. All the economic data for months was better than expected.
For months, Citigroup’s Economic Surprise Index, which measures how often economic news is better than expected, soared — until early 2017. Suddenly, it plunged. Good economic surprises stopped coming in.
On Thursday and Friday, Financial Times and then The Wall Street Journal published reports suggesting investors were facing a new landscape.
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