It’s getting harder and harder to imagine we’re in a recession.
With today’s initial jobless claims report, the closely-watched 4-week moving average of initial claims has fallen to its lowest level since this spring.
Meanwhile, the Citigroup U.S. Economic Surprise Index continues to rally, as the data comes in mostly better than expectations.
Citigroup Economic Surprise Index – United States
Throw it all together, and it’s just getting harder and harder to see a current, or even imminent, recession.