U.S. Economic Data Have Been the World's Most Disappointing

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http://www.bloomberg.com/news/articl...g-in-the-world

Overall, U.S. economic data have been falling short of prognosticators' expectations by the most in six years.

There's been one notable exception to the gloom, and it's a big one: payrolls. The economy added 295,000 jobs in February and 1.3 million over four months, a reflection of a healthier labor market in which the unemployment rate has fallen to the lowest in almost seven years.

Most everything else? Blah.

This month alone, personal income and spending, manufacturing as measured by the Institute for Supply Management, auto sales, factory orders, and retail sales have all come in a bit weak.