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Soft data getting softer

There are times where soft data (#surveys, #sentiment) and hard data (#inflation, #gdp, etc) tell a different story, typically at turning points. Currently, however, we see that both hard data, and sentiment point to a grim picture. The #universityofmichigan consumer sentiment presents the lowest reading of the last 50 years. Even lower than the period of the #gfc of ‘08. This typically precedes a period of very low consumption, which directly and significantly affects gdp.


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