Citi US economic surprise index hits best in three years
US economic data has been cooking. UK strong as well
The Citi Research economic surprise indexes are a great way to monitor how economic data is performing relative to expectations.
After a series of strong US economic data readings, the index has broken out to the best since January 2014.
The other Citi index that's booming is for the UK (although that will likely be pared back after today's retail sales numbers). It's currently at the highest since August 2013. All the Brexit pessimism hasn't hit the real economy.
The Canadian and Eurozone indexes are also high while the Swiss and Norwegian surprise trackers are soft (worst on record for the latter).