Who Is Surprised by Economic Data? (Part II)

by: Barry Ritholtz

This is the second time I have asked this question in recent weeks:

Factory orders in surprise decline (CNN Money)

Durable-Goods Orders Decline [WSJ]
Demand for expensive goods fell 1.7% in February, an unexpected decline, while a barometer of capital spending by businesses tumbled 2.6%, a second straight drop. 8:34 a.m.

Durable Goods Orders in U.S. Unexpectedly Decline as Machinery Plummets (Bloomberg)
Orders for U.S. durable goods unexpectedly fell in February, led by the biggest slump ever in demand for machinery that indicates companies are becoming more reluctant to invest as the economy heads into a recession.

Durable goods orders slip unexpectedly
New orders for long-lasting U.S.-made manufactured goods unexpectedly fell 1.7 percent during February and a key gauge of companies' appetite for investment also shrank, according to data on Wednesday that will reinforce concern the economy has chilled.

Really, who is surprised by weak economic data -- other than clueless cheerleaders? And why do headline writers keep using that phrase...?

Who Are These People Surprised by Economic Data?