No one can blame us for feeling a bit dramatic at the moment. Looking at the latest economic and other headlines this week, I’ve been wondering where we are heading. Many aspects of life are so surreal right now, that it is quite hard to figure out whether things are getting better or worse. A few examples will state my case.
Unemployment and earnings data out of the UK beat expectations two weeks ago. Several other metrics also beat expectations – their trade balance, inflation data, retail prices, and a few others. All very modest numbers by any measure, but it is usually a sign of a turning point when several data points start to beat analysts’ expectations.