US Data Surprises to the Upside
New orders and Exports are key, forward-looking components of the US ISM index, a widely-watched indicator of current US economic activity. Both have declined steadily since the tail end of 2017, supporting the view that the US economy is slowing down. However, the Citi Economic Surprise Index has recently turned positive, showing that the majority of recent data reports have not been as bad as expected. Are we seeing the end of the slowdown?
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