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DJ-BTMU U.S. Business Barometer declined 0.1%
For the week ending October 30, 2010, the DJ-BTMU U.S. Business Barometer declined by -0.1 percent. In October, the barometer revealed a weakening in the industrial side of the economy that was reflected in the October payroll report in which manufacturing shed jobs for a third consecutive month. At the same time, jobs in private services have picked up steadily since May reflecting a turnaround in consumer spending on services. Over the past few weeks inflation adjusted chain store sales and mortgage applications have been strong, and have been the primary drivers of growth in the barometer. Nevertheless, the barometer is tracking sideways in the fourth quarter, supporting our expectation for growth that is on par with the +2.0 percent reported for Q3.
Posted: November 11, 2010 Thursday 10:00 AM