Research >> Economics
DJ-BTMU U.S. Business Barometer rose by 0.3%
|
For the week ending September 7th 2013, the DJ-BTMU U.S. Business Barometer rose by 0.3 percent to 97.8 following a 0.1 percent increase in the prior week. Positive contributions to the barometer from both production and consumption indexes were seen this week. A 3.4 percent decrease in railroad freight carloadings was more than offset by 1.7 percent increases in chain store sales. On the production side, steel production picked up and lumber production jumped significantly by 6.8 percent while electric output weakened following considerable jumps for the last two weeks.
On a year-over-year basis, the barometer showed a flat reading, 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, increased slightly by 0.1 percent for the second consecutive week. Its year-over-year growth rate was 0.5 percent, the biggest increase since June 15.
Posted: September 19, 2013 Thursday 10:00 AM