Research >> Economics
DJ-BTMU U.S. Business Barometer up 0.2%
For the week ending August 14, 2010, the DJ-BTMU U.S. Business Barometer turned around by increasing +0.2 percent following a few weeks of decline. The barometer’s increase in the latest week is not convincing, however, as much of the strength came from indicators of production that were simply reversing the prior week’s decline, while important indicators of consumer demand suffered. Mortgage applications dropped as did inflation-adjusted chain store sales, but were masked by a surge in demand for utilities on unseasonably hot weather. Judging from the barometer’s performance quarter-to-date the third quarter is shaping up to be even slower than the second, where we are expecting a hefty downward revision to the area of +1.1 percent (compared to the advanced report of +2.4%). The BEA will release its second estimate of GDP on Friday, August 27th.
Posted: August 26, 2010 Thursday 10:00 AM