Increasingly, economy watchers wonder whether uncertainty and pessimism — captured in a number of regularly released surveys that tend to be grouped under the term 'sentiment' — might be driving economic performance more than before
New York City The economic mood in the United States has changed quickly over the past six months. At the end of last year, the stock market suffered a steep decline, consumer spending tanked, and economists were forecasting a recession around the corner.
Now it's May, and by most measures, the country is back on an even keel. So why did the dark cloud pass so quickly? Increasingly, economy watchers wonder whether uncertainty and pessimism — captured in a number of regularly released surveys that tend to be grouped under the squishy term"sentiment" — might be driving economic performance more than it used to do.
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