The U.S. economy had a disappointing start to the year, and for now there isn’t much evidence of a strong comeback.
U.S. indicators are continuing to undershoot analysts’ estimates, according to the Bloomberg Economic Surprise Index, which made fresh lows late last week.
The Bloomberg ECO U.S. Surprise Index, which measures whether data is beating or missing forecasts, is sitting at its lowest level since the Financial Crisis.
Earlier in March, we told you that the labor market was the only area posting positive surprises. However, jobs data has disappointed since then, with the U.S. economy adding just 126k non-farm payroll jobs in March.