Business Cycle Index:
The growth in New Houses Sold and For Sale, a component of the BCI, continued in August after a slump in July, and together with the S&P 500 remaining strong pushed the BCI to a new high of 159.5 from last weeks revised 158.2
The BCIg, the 6-month smoothed annualized growth rate plus 6, rose from a revised 16.4 to 17.1
BCIg at a level of zero signals a recession, thus no recession is imminent.
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