Goldman: Positive Surprise Index Hits Lowest Level Since March '09

Does it feel as though a lot of the economic data has been a disappointment lately?

It's not just your imagination.

Goldman Sachs observes the same thing:

So far in January, the only strong data release of note has been the December ISM index for
the factory sector.  Meanwhile, the nonmanufacturing  ISM, the employment report, retail sales, the CPI, housing starts, the January Philly Fed, and the last two weekly jobless claims reports have all fallen short of expectations.  As a result, our GS Surprise Index for January is on track for its worst showing since the dark days of March 2009, as illustrated in Exhibit 1.

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See Also:

• Jobless Claims Jump For First Time In 19 Weeks
• Rosenberg: Housing Is In A Depression, And It's Already Double-Dipping
• Homebuilders Index Slips Again In January, Confirming The Housing Double Dip

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