U.S. ‘Hard’ Economic Data Top Expectations by Most in Four Years
An employee climbs into a forklift at a kayak factory in Tennessee.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Forecasters appear to have been too pessimistic for once.
Bloomberg’s U.S. surprise index that tracks how so-called “hard” economic data perform relative to economists’ projections was the highest in November since March 2013. The gauge includes basically every major report except surveys of business or consumer sentiment.