How economic data works

Sometimes economic data trends, and trends in the same direction for a long time. And sometimes it peaks (or bottoms) and begins trending in a new direction – up or down.
But turning points in long-term trends are rare, and there are still other times during which there is no trend at all.
And it is during these long-term trends or trendless trends that people mistake ebbs and flows for being meaningful. And, worse …

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