Research >> Economics
DJ-BTMU U.S. Business Barometer up by 0.5%
For the week ending May 1, 2010, the DJ-BTMU U.S. Business Barometer increased +0.5 percent extending its growth streak to eleven straight weeks. A surge of mortgage applications over the past three weeks leading up to the April 30 expiration of the homebuyers’ tax credit resulted in a 0.2 percentage point boost to the barometer in the latest week alone. The surge, however, does imply that over the next few weeks a hefty drop in mortgage applications will weigh on the barometer as the tax credit effectively pulled demand forward. Nevertheless, nearly all other components in the barometer are piping hot and will help the economy withstand the withdrawal of housing stimulus. The industrial side of the economy is contributing nicely to economic growth and accounted for 0.3 percentage points of the barometer’s growth in the latest week.
Posted: May 13, 2010 Thursday 10:00 AM