Fortune tellers read tea leaves. Astrologers read stars. And economists searching for signs of the recession`s end are reading ... white paint.
More specifically, they`re tracking the price of titanium dioxide, the substance that makes paint white. Titanium dioxide might not be a household name, and economists of course eye more widely watched indicators.
But white paint is seen by many as an economic barometer, given its widespread use in everything from house paints, cars and washing machines to railway cars, skyscrapers and airplanes.
If the price of titanium dioxide is doing well, the explanation goes, more white paint is selling, suggesting a pickup in economic activity.
So when the U.S. Department of Labor released monthly prices for TiO{-2} yesterday, many economists took note. The chemical`s price was actually down in June, but has fallen at a slower pace for three months in row.
Read the full article here.
More specifically, they`re tracking the price of titanium dioxide, the substance that makes paint white. Titanium dioxide might not be a household name, and economists of course eye more widely watched indicators.
But white paint is seen by many as an economic barometer, given its widespread use in everything from house paints, cars and washing machines to railway cars, skyscrapers and airplanes.
If the price of titanium dioxide is doing well, the explanation goes, more white paint is selling, suggesting a pickup in economic activity.
So when the U.S. Department of Labor released monthly prices for TiO{-2} yesterday, many economists took note. The chemical`s price was actually down in June, but has fallen at a slower pace for three months in row.
Read the full article here.