Research >> Economics
DJ-BTMU U.S. Business Barometer picked up by 0.4%
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For the week ending March 1 2014, the DJ-BTMU U.S. Business Barometer picked up by 0.4 percent following a large decline of 0.7 percent in the prior week. Most of the production indexes bounced back from decreases last week and pushed up this week’s barometer. Electric output increased significantly by 8.5 percent, rebounding from a 10.8 percent drop, and lumber production and steel production also rose by 2.5 percent and 1.4 percent, respectively. In the consumption indexes, chain store sales picked up slightly after declining in the previous week, but was cancelled out by a 1.2 percent drop in railroad freight carloadings.
On a year-over-year basis, the barometer showed a gain of 0.2 percent, the lowest rate since October 12 2013, 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 unchanged at 97.2. Its year-over-year growth rate was 0.3 percent.
Posted: March 13, 2014 Thursday 10:00 AM