By Walter Kurtz, Sober Look
Friday’s employment report has sent the Citi Economic Surprise index sharply higher.
Citi Economic Surprise Index
This is building on earlier momentum from stronger than expected US economic indicators such as the ISM PMI results.
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”.