I look forward to reading Scott Minerd’s weekly Macro View. The past two weeks he has touched on how the frigid cold in January has temporarily pushed down lots of econ data – and he expects this to be a temporary effect.
Quick charts before the download:
“U.S. Rebound Likely After Weather-Depressed January
Economic data for January continues showing the negative effect of unusually cold weather in much of the United States. However, the weak data is likely temporary, and should reverse once weather returns to more normal patterns. Based on past experiences where cold weather depressed retail sales in January, there could be a meaningful rebound in consumer activity in the coming months as pent-up demand is released.”