BNP Paribas analysts suggest that the positive cyclical surprises for the US economy have become rare, but the economy still seems to be poised for a smooth landing.

“In the US, positive cyclical surprises have become rare: employment figures and the ISM PMI were the only statistics that surpassed expectations in January. Yet these are solid indicators. Moreover, although industrial output & retail sales were disappointing, they were probably caused by poor weather conditions or temporary factors (government shutdown). For the moment, US economy still seems to be poised for a smooth landing.” analysts said.