Things are not always what they seem, especially when statistics are involved. How else can one explain a GDP report of +5.7% and a decrease in the unemployment rate being matched with long faces and pessimism? The economic side-step is continuing, and a mild upturn is being viewed with suspicion. Every time there's good economic data, it seems to barely survive the headline and first paragraph of its press release without devolving into adjustments, revisions, and clarifications. Our job as managers is not just requiring navigation skills, but seems to need a refresher course in defensive driving.
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