Research >> Economics
DJ-BTMU U.S. Business Barometer increased 1.2%
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For the week ending July 9, 2011, the DJ-BTMU U.S. Business Barometer rose sharply by +1.2 percent to 96.7, the highest level since 96.9, posted in the week ending October 18, 2008. Three of the production components contributed most to the barometer’s increase in the latest week; seasonally adjusted auto and truck production, and lumber production. On the consumption side, inflation adjusted chain store sales increased slightly after two weeks of strong performance. Railroad freight carloadings and box office receipts rebounded while mortgage applications declined.
On a year-over-year basis, the barometer increased by +2.1 percent in the week ending July 9, 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, increased +0.3 percent in the latest week ending July 9th, while its year-over-year growth rate accelerated to +1.9 percent.
Posted: July 21, 2011 Thursday 10:00 AM