Research >> Economics
DJ-BTMU U.S. Business Barometer Increased by 0.2%
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For the week ending November 3, 2012, the DJ-BTMU U.S. Business Barometer increased by 0.2 percent after decreasing for three weeks in a row. Most of the production industries showed pickups this week. Both Auto and Truck Production increased by approximately 6 percent and especially, the level of Auto Production bounced back to the level of the earlier September. Steel Production picked up by 1.2 percent following decreases for three consecutive weeks and Lumber Production increased by 0.6 percent for the second consecutive week. In contrast, Electric Output and Bituminous and Lignite Production dropped this week. In the service sector, Railroad Freight Carloadings increased by 1.2 percent following a slight decline in the previous week. Meanwhile, Chain Store Sales dropped moderately this week.
On a year-over-year basis, the barometer increased by 1.3 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 flatlining 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 barometer increased by 2.2 percent in 2011 at a somewhat slower pace compared to 2010.
The smoothed version of the barometer, which attempts to account for weekly volatility, decreased by 0.1 percent, while its year-over-year growth rate was 1.3 percent.
Posted: November 15, 2012 Thursday 10:00 AM