Pleasing Data Points

While most of the economic data released last week was hum drum, the two biggest data points surprised to the upside. Q3 GDP came in at 2.8%, when all genius economists expected 2%, and employment growth was a robust 204,000, not the 120,000 expected. While two surprises aren’t enough to make me an economic Pollyanna, they matter. And when upside surprises begin to regularly outweigh downside ones, it’s good news.

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