Business Cycle Index:
Positive for the BCI was further good growth in the housing data, however it could not compensate the negative influence that the slight increase of the continues unemployed claims and the drop in the S&P 500 exerted.
The Business Cycle Index slightly down at 155.8 from last week’s upwards revised 156.3 breaking the long trend of weekly gains. BCIg for the second week in succession on a downward path at 21.0 from last weeks revised 21.6. Historically seen these are normal fluctuations of the indicator in the economy.