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Monday, June 29, 2009
Paint ingredient predicts economy an economic predictor 30
Las Cruces Sun-News
Are you searching for a sign, any sign, that the recession is on the way out?
There are a variety of indicators you could look for, but ... you would probably think to take a gander at tea leaves or pig entrails before you would think to check titanium dioxide prices.
Yet, those prices could very well give us an idea as to where the economy is headed. You see, as The Associated Press recently reported, titanium dioxide is a key ingredient in white paint and, if the price rises, that could mean more construction is taking place and, thus, more white paint is needed. White paint is, after all, the most popular color used in construction.
AP economics writer Jeannine Aversa recently pointed out that the prices did not fall as much in May as they did in April.
"The slower pace of decline in titanium dioxide prices could suggest that the economy is a little less weak," Richard Yamarone, economist at Argus Research Corp, told the AP.
So this is where we are at, searching the prices of an ingredient used in white paint to determine if the "economy is a little less weak."
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