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DJ-BTMU U.S. Business Barometer unch%
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For the week ending August 16 2014, the DJ-BTMU U.S. Business Barometer remained at 98.4 as negative performances of consumption indexes were cancelled out by gains in production indexes. Chain store sales fell by a sharp 1.3 percent, extending the weakening trend to two weeks. MBA’s purchase index also dropped 0.4 percent this week. As to the production side, all indexes except coal and steel production reported significant gains. For instance, auto production and electric output surged 2.4 and 1.8 percent, respectively.
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 1.1 percent.
Posted: August 28, 2014 Thursday 10:00 AM