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DJ-BTMU U.S. Business Barometer decreased slightly by 0.1%
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For the week ending February 8 2014, the DJ-BTMU U.S. Business Barometer decreased slightly by 0.1 percent following a 0.2 percent decline in the prior week. The decline of barometer this week was due to modest negative contributions by both consumption and production. MBA’s purchase index dropped for the second consecutive week to the lowest since December last year. Meanwhile, railroad freight carloadings picked up after weakening for three consecutive weeks. For production, truck production, electric output and steel production declined while lumber production increased moderately.
On a year-over-year basis, the barometer showed a gain of 1.3 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, showed no changed after declining for six consecutive weeks. Its year-over-year growth rate was 0.8 percent.
Posted: February 20, 2014 Thursday 10:00 AM