And when our soft data turns out to be wrong, it can have disastrous consequences for our decision-making processes.
Soft data leads to making assumptions that may or may not be true.
He says there is "soft data" in the form of surveys and interviews that suggests buildings that adhere to feng shui principles make their occupants happier -- be it a shopping mall, office block or a hospital.
Futures were down 7 handles early this morning after some soft European data weakened the euro, but stocks are bouncing in afternoon trading.
FORBES: Goldman Sachs Still Golden, Apple Tries To Shake Trip To Lows
This week, soft global data is providing only tentative support.
Further, soft Chinese economic data overnight also undermined gold, said Carlos Sanchez, director of risk management with CPM Group.
FORBES: FOCUS: Gold's Tumble Continues; Bargain Hunting Seen Once Prices Stabilize
Soon after markets reopened Monday morning in Asia, which is late Sunday in London, the selling resumed after the soft Chinese economic data.
Influences contributing to the decline include soft Chinese economic data overnight, worries that any selling of Cypriot gold to help fund a bailout will create a domino effect in which other debt-plagued European nations have to sell as well, plus a strong U.S. stock market so far this year that has taken away safe-haven demand for gold.
FORBES: FOCUS: Gold's Tumble Continues; Bargain Hunting Seen Once Prices Stabilize
Nevertheless, hard landing or soft landing, China data added to concerns that Asian growth is slowing more sharply than had previously been feared.
The research departments of a number of investment banks have said they see potential for a third round of quantitative easing down the road, assuming U.S. economic data remains soft.
FORBES: Gold Market to Focus On Bernanke, U.S. Data Next Week For Any Clues On Monetary Easing
Business Insider, a very successful web site, has another way of looking at this phenomenon of the market refusing to decline in the face of disappointing economic data like soft durable goods orders or softening in GDP due to the Sequester and Austerity.
Maybe it will be a rally in the dollar, the return of inflation, or another soft patch in the economic data.
The soft March U.S. data included a rise of just 88, 000 in non-farm payrolls and 0.4% decline in retail sales.
FORBES: METALS OUTLOOK: Gold Market To Focus On Central-Bank Meetings, Jobs Report, Physical Demand
Analysts also said gold is underpinned by ongoing European debt issues, a continuation of central-bank buying after Bank of Korea purchases, plus still-soft U.S. economic data that means continued loose monetary policy and perhaps even more stimulus.
FORBES: Gold Underpinned By Downgrade Worries, Economy, European Debt Issues, Central-Bank Buying
Overall, the latest data continue to suggest a soft landing, but a strong acceleration in activity in Q1 remains unlikely, in our view.
FORBES: Barclays Expects Lower Chinese Industrial Production Next Week
The experiment fell into deep snow in the far north of Sweden - and the possibility of a soft landing has the Strathclyde team hoping even more data can be recovered.
So, while there has yet to be any concrete evidence that the economy is actually losing steam right now, with lots of people talking about another soft patch, we will want to pay particularly close attention to the upcoming data such as the ISM reports, the jobs numbers, and the commentary from corporations when they report earnings.
FORBES: Some Investors Concerned We Could Be Entering Another Soft Patch
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