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DJ-BTMU U.S. Business Barometer dropped slightly by 0.1%
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For the week ending August 3rd 2013, the DJ-BTMU U.S. Business Barometer dropped slightly by 0.1 percent following a significant decrease of 0.6 percent in the prior week. A slight dip in this week’s barometer resulted from declines in the production indexes, which overall have weakened for four consecutive weeks. Electric output dropped by 4.2 percent, and the large declines have been seen for three weeks in a row. Auto production also decreased sharply by 10.7 percent. In the consumption indexes, railroad freight carloadings dropped after modest increases for three weeks while chain store sales picked up marginally.
On a year-over-year basis, the barometer showed no change, 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, decreased by 0.1 percent for the third consecutive week. Its year-over-year growth rate was 0.3 percent.
Posted: August 15, 2013 Thursday 10:00 AM