Research >> Economics
DJ-BTMU U.S. Business Barometer decreased 0.1%
|
For the week ending August 6, 2011, the DJ-BTMU U.S. Business Barometer was down -0.1 percent after a flat reading in the prior week. Six out of 10 components of the barometer fell in the latest week. Inflation-adjusted chain store sales declined two weeks in a row, even though the 2011 sales tax holiday kicked in for 11 states during the week ending August 6th. On the production side, seasonally adjusted auto and truck production decreased, which was offset by a gain in steel production and electric output.
On a year-over-year basis, the barometer increased by +1.9 percent in the week ending August 6, 2011, 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 down -0.1 percent as well in the latest week ending August 6th, while its year-over-year growth rate was up +1.8 percent.
Posted: August 18, 2011 Thursday 10:00 AM