Eurozone data is falling short of the ramped-up expectations - Rabobank

Analysts at Rabobank suggest that it’s a recurring theme that Eurozone data is falling short of the ramped up expectations and their own Economic Surprise Index (another ESI) for the common currency area has in fact deteriorated pretty dramatically from +14.5 mid-February to -12.5 currently.

Key Quotes

“Mean reversion to zero and big swings in surprise indices are an inherent feature as the market adjusts its expectations based on previous data points, but the last time this ESI was this low was eighteen months ago.”