“It Fell Off A Cliff”: Morgan Stanley’s Macro Indicator Just Crashed The Most Since Dec. 2008

Jon Economy

Step aside Citi US Economic Surprise Index, which after a “surprising” streak of negative economic data, recently crashed to the lowest level since October 2016…

… and make way for Morgan Stanley’s ARIA, a monthly US macro indicator based on data collected through primary research on key US sectors (consumer, autos, housing, employment, and business investment).
The reason why this particular index will likely feature prominently in financial commentary in the coming days and weeks, is that as Morgan Stanley’s chief economist Ellen Zentner writes, “ARIA appears to have fallen off a cliff in April, with a 0.72% decline, the largest since December 2008.”

This post was published at Zero Hedge on May 14, 2017.