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DJ-BTMU U.S. Business Barometer declined slightly by 0.1%
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For the week ending February 28 2015, the DJ-BTMU U.S. Business Barometer declined slightly by 0.1 percent to 98.5. The biggest factor that contributed to the performance of this week’s barometer was steel production, which dipped by a solid 3.0 percent, extending the falling trend for three consecutive weeks. The drop in steel production, however, was partially offset by gains in electric output and auto production, which rose by 2.6 and 7.1 percent, respectively. As to the consumption side, MBA’s purchase index fell marginally by 0.2 percent.
On a year-over-year basis, the barometer showed a gain of 1.2 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 98.5. Its year-over-year growth rate was 1.2 percent.
Posted: March 12, 2015 Thursday 10:00 AM