Research >> Economics
DJ-BTMU U.S. Business Barometer Decreased 0.1%
For the week ending December 10, 2011, the DJ-BTMU U.S. Business Barometer edged down -0.1 percent for two weeks in a row. Inflation-adjusted chain store sales declined -0.1 percent on top of -2.0 percent in the prior week after the strong post-Thanksgiving sales in the week ending November 26th. Mortgage applications also dropped in the latest week. On the production side, electric output and auto production rebounded, more than offsetting the decline in lumber production.
On a year-over-year basis, the growth of the barometer increased by +1.4 percent, which compares to an average -3.3 percent decline over the Great Recession (determined to have 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%), but not so impressive when you compare it to an -8.0 percent drop in 2009.
The smoothed version of the barometer, which attempts to account for weekly volatility, was flat again in the week ending December 10th, while its year-over-year growth rate slowed to +0.8 percent.
Posted: December 22, 2011 Thursday 10:00 AM