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DJ-BTMU U.S. Business Barometer Declined by 0.3%
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For the week ending December 1, 2012, the DJ-BTMU U.S. Business Barometer declined by 0.3 percent, following 0.7% jump in the previous week. On production side, despite weak auto production for the weak, recovery in electric output and also lumber and steel production brought the contribution of the production side to slightly positive territory. On consumption side, however, 2.9% drop in Chain Store Sales was a drug but not so weak reading considering a 3.3% increase in the previous week.
On a year-over-year basis, the barometer showed increase of 1.3 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 slightly slowed to 1.0 percent.
Posted: December 13, 2012 Thursday 10:00 AM