The Citi Economic Surprise Index has reached it's highest level since February and has increased sharply since mid-May. On May 13th the surprise index fell to it's lowest level since late 2008. However, since then it has been on a sharp trajectory upwards and has rebounded from -135 to +31.
Meanwhile, in the Developed Markets economic surprises are surprising on the downside. The US index has been in negative territory since June.The Developed Markets index is also breaking down and is at a 13-month low. Finally, the Eurozone is helping the US drive the Developed Markets index lower.