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DJ-BTMU U.S. Business Barometer dipped by 0.2%
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For the week ending October 18 2014, the DJ-BTMU U.S. Business Barometer dipped by 0.2 percent to 98.1 as most indexes extended their weakening trend. Chain store sales fell by 0.3 percent, after a loss of 0.8 percent in the prior week. In the same line, MBA’s purchase index dropped by a solid 4.8 percent, extending the negative trend for two consecutive weeks. As to the production side, electric output and steel production declined by 2.7 and 0.9 percent, respectively, although it was partially offset by minor gains in auto production.
On a year-over-year basis, the barometer showed a gain of 0.7 percent, which compares to an average -3.3 percent decline over the Great Recession (ended in June 2009 according to the NBER). After flat lining in 2006, and declining from 2007 through 2009, the barometer bounced back in 2010 to rise by 3.4 percent, which was the strongest increase since 1994 (+4.0 percent), but not so impressive when compared to an -8.0 percent drop in 2009. The rate of increase for the 2013 slowed to 0.7 percent following 1.5 percent in 2012.
The smoothed version of the barometer, which attempts to account for weekly volatility, remained at 98.2. Its year-over-year growth rate was 0.9 percent.
Posted: October 30, 2014 Thursday 10:00 AM