Research >> Economics
BTMU U.S. Business Barometer dropped by 0.1%
For the week ending August 22 2015, the BTMU U.S. Business Barometer decreased by 0.1 percent to 99.0, extending the fall for three weeks in a row. On the consumption side, railroad freight carloardings slipped by 2.1 percent, although it was somewhat offset by gains in MBA’s purchase index. As to the production side, steel production dipped by 1.3 percent following a gain of 0.4 percent in the previous week. Lumber production also declined by 0.1 percent, prolonging the decline for four consecutive weeks.
On a year-over-year basis, the barometer showed a gain of 0.4 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, remained at 99.2. Its year-over-year growth rate was 0.6 percent.
Posted: September 3, 2015 Thursday 10:00 AM