FYI: Every year we have a recession in the first quarter and every year people get hysterical. And every year the economy rebounds into summer and the hysterics roll back their estimate cuts and their calls for economic demise.
Putting aside why economy-watchers are so easily fooled or confused after so many episodes of the same show, it’s worth understanding why this occurs.
Bank of America Merrill Lynch’s US economist Ethan Harris explains the quirks in the data that lead to this annual freak-out (emphasis mine):
Regards,
Ted
http://thereformedbroker.com/2015/05/24/ignore-the-annual-first-quarter-recession/
