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DJ-BTMU U.S. Business Barometer decreased by 0.1%
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For the week ending May 3 2014, the DJ-BTMU U.S. Business Barometer decreased slightly by 0.1 percent following a 0.1 percent increase in the prior week. Consumption index dragged down this week’s barometer; chain store sales dropped by 2.0 percent, more than offsetting positive contributions of MBA’s purchase index and railroad freight carloadings. According to the International Council of Shopping Centers, the chain store sales weakened due to challenging weather for retailers. As to production index, there were no significant changes across the board.
On a year-over-year basis, the barometer showed a gain of 0.3 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, dropped marginally by 0.1 percent, the first decline since February 8 2014. Its year-over-year growth rate was 0.4 percent.
Posted: May 15, 2014 Thursday 10:00 AM