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DJ-BTMU U.S. Business Barometer decreased by 0.3%
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For the week ending November 30 2013, the DJ-BTMU U.S. Business Barometer decreased by 0.3 percent following 0.3 percent gain in the previous week. Consumption indexes showed negative contributions across the board including 2.6 percent decline in chain store sales and 2.4 percent decline in railroad freight carloadings. MBA’s purchase index also dropped by 4.1 percent. Meanwhile, production side showed positive contributions driven by electric output, which surged by 11.7 percent. Also, truck production has been increasing since October 12.
On a year-over-year basis, the barometer showed a gain of 0.8 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 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 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, edged up to 97.9 and recovered the level seen in April. Its year-over-year growth rate was 0.9 percent.
Posted: December 12, 2013 Thursday 10:00 AM