Research >> Economics
DJ-BTMU U.S. Business Barometer decreased again by 0.1%
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For the week ending September 28th 2013, the DJ-BTMU U.S. Business Barometer decreased again by 0.2 percent for three consecutive weeks. Weakening trend in both production and consumption indexes still continues. MBA’s purchase index in the consumption side contributed to the barometer negatively, declining by 5.6 percent, for the first time since August 10. As to the production side, auto production dropped largely by 6.9 percent and electric output also declined for two weeks in a row. Other indexes showed no change or only slight ups and downs.
On a year-over-year basis, the barometer showed a gain of 0.6 percent, decelerating for two consecutive weeks, 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, decreased by 0.1 percent following a drop in the prior week. Its year-over-year growth rate was 0.5 percent.
Posted: October 10, 2013 Thursday 10:00 AM