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If you are new to Sector & Industry specific investing click here for an introduction to sectors & industries. Each segment is analyzed through its stock market dynamics, credit markets, news flow and industry specific quantitative and macroeconomic factors. MacroVar analyzes sectors, industry groups, industries and sub-industries in US, Europe, Emerging Markets and Asia. Global Macro MacroVar Stock Sectors Models Global Citigroup Economic Surprise Index momentum is monitored by calculating its long-term year over year (Y/Y) return and its short-term month on month (M/M) return. Global Citigroup Economic Surprise Index momentum Global Citigroup Economic Surprise Index trend change is assumed when the specific indicator has recorded a 3-month high / low or more. MacroVar calculates the number of months the Global Citigroup Economic Surprise Index has recorded new highs or lows. Global Citigroup Economic Surprise Index trend is in an uptrend when the last value is higher than its twelve-month moving average and its twelve-month moving average slope is positive (last twelve-month moving average is higher than the previous month twelve-month moving average) and vice-versa. Global Citigroup Economic Surprise Index trend The indices also employ a time decay function to replicate the limited memory of markets. The weights of economic indicators are derived from relative high-frequency spot FX impacts of 1 standard deviation data surprises. The indices are calculated daily in a rolling three-month window. A positive reading of Global Economic Surprise Index suggests that economic releases have on balance beating consensus. They are defined as weighted historical standard deviations of data surprises. Global Citigroup Economic Surprise Index (CESI) are objective and quantitative measures of economic news. Global Citi economic surprise index analysis MacroVar ISM Inflation Synthetic Indicator MacroVar ISM New Orders Synthetic Indicator