Business Cycle Index
The BCI at 176.5 is up from last week’s 175.3. The BCIg, the smoothed annualized growth of BCI, at 19.2 is also up from last week’s 18.2.
The sharp increase of the BCI is mostly attributable to the sales of new single-family houses, which at a seasonally adjusted annual rate for May was 18.6% above the April rate, according to the US Census Bureau.
This week’s BCI does not signal a recession in the near future.
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