Research >> Economics
DJ-BTMU U.S. Business Barometer declined by 0.3%
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For the week ending January 26, 2013, the DJ-BTMU U.S. Business Barometer declined by 0.3 percent after leveling out in the prior week. This week’s drop principally resulted from decreases in the consumption side. Chain Store Sales decreased this week again marking the fourth week of consecutive drops since the beginning of the year. The decrease during four weeks was comparatively large and it has reached the lowest level since February 2012. Also, Railroad Freight Carloardings dropped following a flat reading in the previous week. On the production side, Steel Production slightly decreased this week offset by Electric Output which increased for two consecutive weeks.
On a year-over-year basis, the barometer showed increase of 1.0 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 rate of increase for the 2012 slightly slowed to 1.4 percent following 2.2 percent in 2011.
The smoothed version of the barometer, which attempts to account for weekly volatility, declined 0.2 percent for the fifth consecutive week. Its year-over-year growth rate was 1.2 percent.
Posted: February 7, 2013 Thursday 10:00 AM