The misery index is calculated by summing a country’s unemployment rate with its inflation rate.
Gluskin Sheff’s David Rosenberg says it’s a good thing.
“The U.S. Misery Index… has fallen for three consecutive months from 8.4 in October to 8.3 in November, and is now below the long-run norm (so the new normal is actually the norm in this respect!) and the lowest it has been in four years,” wrote Rosenberg today.
“So when I’m asked if I have turned more positive on the economic backdrop, and I answer ‘yes’, this is one of the charts that are on the back of my mind.”
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