Research >> Economics
DJ-BTMU U.S. Business Barometer down 0.2%
For the week ending June 12, 2010, the DJ-BTMU U.S. Business Barometer declined by -0.2 percent, but its year-over-year rate of growth improved because the comparison captures the economy’s trough in June of last year. This week the Census Bureau reported that new home sales plunged to the lowest level on record in May as government stimulus supporting the housing market ended April 30. After five straight weeks of declines in mortgage applications, we actually saw a +7.3 percent increase in the week ending June 12th, perhaps suggesting that the bulk of the so-called “payback” period for new home sales was concentrated in May. Mortgage applications are a heavily-weighted component in the business barometer behind inflation-adjusted chain store sales and truck production.
Posted: June 24, 2010 Thursday 10:00 AM