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citi economic surprise index investopedia

For example, if unemployment claims this year are 2X higher than last year (200% year-over-year), then the index is 50 (100/2). The Department of Consumer and Worker Protection licenses more than 75,000 businesses in more than 50 industries (overview of businesses licensed by DCWP) . Risk indicators contributed –0.28, credit indicators contributed –0.20, and leverage indicators contributed –0.09 to the index in the latest week. On May 13th the surprise index fell to it’s lowest level since late 2008. 4) Economic Indicators: Consumer Confidence Index (CCI) 5) Economic Indicators: Consumer Credit Report 6) Economic Indicators: Consumer Price Index (CPI) 7) Economic Indicators: Durable Goods Report 8) Economic Indicators: Employee Cost Index 9) Economic Indicators: Employee Situation Report 10) Economic Indicators: Existing Home Sales The Citi Economic Surprise Index measures the pace at which economic indicators are coming in ahead of or below consensus forecasts. I calculated 1 and 2 month market returns from the initial reading of 55 – an arbitrary, but high historical data point in the series. That's never a good thing, but thankfully, there are signs that the tide is turning. Special thanks to Spectrum News New York 1 for their collaboration and partnership. The iniquitous distribution of wealth, as well as the disproportionate impact of the pandemic on Black and Latino residents results in a broad range of lived experiences not reflected in the index. The Citi Economic Surprise indices, which track how economic data is coming in relative to forecasts, have been a prime example of the moves in economic data. The spread of COVID-19 was exponential before measures were taken to contain the spread, and a second wave could progress similarly. Consensus credit outlook. The counts are aggregated from readings occurring every 4 hours from turnstiles in subway stations across the city. We built the overall city recovery index from components that align with the lives of New Yorkers: As New York recovers from COVID-19, the shutdowns, and their economic repercussions, we expect each of these elements to return to pre-pandemic levels. Hospitalizations are a more stable measure over time, as they track those people who are admitted with COVID-19. Instead, she sees strong evidence that the U.S. economy has peaked: "economic data has disappointed, sending the Citi Economic Surprise Index into … Citigroup’s US Economic Surprise Index illustrates how wide the gap between expectations and reality has been lately. Add a Comment. To construct the index prior to March 1, weekly turnstile reports were downloaded and compiled into one file. For the component score, the Restaurant Reservations Index is divided by 5 to be equally weighted alongside the other components. Citigroup's Surprise Indexes Flash Negative Around the Globe By . Only when daily hospitalizations approach 0, will the index reflect the ability of New York City to fully return back to normal. A negative reading denotes economic data which is worse than expectations. These values are converted to whole numbers for the Subway Mobility Index. Citi Surprise Index Update. The index shows recent global economic data surprising to the upside Weekly reports provided by the NYSDOL Division of Research and Statistics provide the year-over-year percent change in initial claims by region of the state. Special thanks also to StreetEasy for providing weekly pending home sales, historically and by borough, and for their collaboration and clarification in the use of their data. So as initial claim numbers trend back to the level seen in 2019, the index will increase back up to 100.

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