Research >> Economics
MUFG U.S. Business Barometer bounced back by 0.2%
For the week ending April 23 2016, the MUFG U.S. Business Barometer bounced back by 0.2 percent to 98.0. Although this week’s barometer went up, it was characterized by mixed performances in both consumption and production indexes. Chain store sales increased again by 0.5 percent, extending the rise for two consecutive weeks. However, MBA’s purchase index and railroad freight car loadings recorded losses. As to the production side, auto and coal production reported the biggest gains, but they were partially offset by losses in steel production and electric output.
On a year-over-year basis, the barometer declined by 1.0 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 flat at 97.9. Its year-over-year growth rate was -0.9 percent.
Posted: May 5, 2016 Thursday 10:00 AM