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DJ-BTMU U.S. Business Barometer down 0.3%
For the week ending October 2, 2010, the DJ-BTMU U.S. Business Barometer reversed course by falling -0.3 percent following an increase of the same magnitude in the prior week. A drop in utility demand alone accounted for -0.2 percentage points of the barometer’s decline in the latest week as national temperatures were well above normal, which was also the reason why inflation-adjusted chain store sales fell in the same week because seasonal demand for cold-weather goods was squashed. Although we’ve turned the page on the third quarter, the BEA will not release its first estimate of economic growth until late this month. The barometer, however, is pointing to third quarter growth around +2.0 percent (see graph below) and is expected to continue to move sideways in the final quarter of the year.
Posted: October 14, 2010 Thursday 10:00 AM