Shocks & Surprises Weekly Espresso

This week's issue of the Shocks & Surprises Espresso takes a look at the implications of three sets of data:

• US personal income, which rose 2.6% mom in December
• German terms of trade for December, and their implications for the Eurozone
• Japan's 4.8% yoy rise in construction orders in December, including the 52.7% yoy jump in national government orders. 

In each case, I think there are things to be learned by looking at them in a little more detail. The Espresso is delivered in email form, and if you'd like to take a look, email me at michael.taylor@coldwatereconomics.com.