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DJ-BTMU U.S. Business Barometer unch%
For the week ending August 30 2014, the DJ-BTMU U.S. Business Barometer remained at the same level, 98.6, from the prior week as minor gains in most indexes were entirely cancelled out by sharp drops in others. On one side, electric output and lumber production rose by 1.7 and 1.8 percent, respectively, in line with other minor gains in truck and steel production. However, on the other side, auto production plummeted by 8.4 percent this week as well as MBA’s purchase index and coal production, which declined by around 1.0 percent.
On a year-over-year basis, the barometer showed a gain of 1.1 percent, 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, surged 0.1 percent to 98.6. Its year-over-year growth rate remained at 1.1 percent.
Posted: September 11, 2014 Thursday 10:00 AM