Today's employment report has sent the Citi Economic Surprise index sharply higher.
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| Citi Economic Surprise Index |
This is building on earlier momentum from stronger than expected US economic indicators such as the ISM PMI results.
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| Manufacturing (white) and Non-manufacturing (yellow) ISM PMI |
There is no question that the US economy is not going to experience the type of contraction seen in Europe. But slow growth of 2% and under is the "new normal".
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