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DJ-BTMU U.S. Business Barometer Declined by 0.4%
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For the week ending December 8, 2012, the DJ-BTMU U.S. Business Barometer declined by 0.4 percent, following 0.3 percent decline in the previous week. On consumption side, marginal decline in Chain Store Sales was offset by an increase in MBA’s purchase index. On production side, however, weak truck production and a plunge in electric output weighed on the total index.
On a year-over-year basis, the barometer showed increase of 0.9 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 barometer increased by 2.2 percent in 2011 at a somewhat slower pace compared to 2010.
The smoothed version of the barometer, which attempts to account for weekly volatility, was unchanged for the week. Its year-over-year growth rate continued to slow to 0.6 percent.
Posted: December 20, 2012 Thursday 10:00 AM