Research >> Economics
DJ-BTMU U.S. Business Barometer rebounded by 0.7%
|
For the week ending February 16, 2013, the DJ-BTMU U.S. Business Barometer rebounded by 0.7 percent following a 0.8 percent decrease in the prior week. Combined with the positive contributions by consumption and production sides, this week’s jump was the largest since December 15th, 2012. Chain Store Sales picked up by 2.7 percent and contributed the most to the increase of the barometer. Railroad Carloadings also rose after decreasing slightly in the previous week. Furthermore many of the production industries showed gains with the Lumber Production rising by 3.5 percent, followed by Electric Output and Steel Production.
On a year-over-year basis, the barometer showed increase 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 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, was flat for the second consecutive week. Its year-over-year growth rate was 0.5 percent.
Posted: February 28, 2013 Thursday 10:00 AM