by Arnold Joe
Loading ...Economics:
Stock markets in North America have been taking a beating recently especially the oil and gas sector. Oil has dropped about $10 in 2 days and oil stocks have sold off to much lower levels than when oil was last back at this level. It’s not just oil and gas stocks that are selling […]
Economics:
The Bank of Canada surprised everyone by doing nothing when the consensus view was that they would drop rates by 0.25%. I find it especially surprising since inflation is still well contained and the most recent GDP growth was negative. Most other central bankers would have dropped rates (other than the European Central Bank […]
Economics:
The US ISM (a manufacturing index) in May showed some slight improvement, but still showed the sector was contracting with a reading of 49.6 up from 48.6…any reading less than 50 indicates contraction. Not surprising, the employment sector had another weak reading of 45.5 and the prices paid component hit an 87% which is […]
Housing:
US Home builders must be feeling more confident about the housing markets as the number of housing starts in April increased 8.2% more than 100,000 than expected but still 30% below last April. All the gains were in the multiple unit dwellings. The housing permits also increased by 4.9%, the first increase in 5 […]
Economics:
There were lots of weak US economic numbers released today. Industrial production in April fell 0.7%, capacity utilization dropped to 79.7%, the Philly Fed index contracted again with another negative reading of 15.6, the New York Empire manufacturing index fell to negative 3 while the prices paid component posted a large increase to another record […]
Economics Recap:
The US manufacturing index for April was 48.6 same as the previous month. Readings less than 50 means the sector is shrinking, while readings greater than 50 mean the sector is expanding. This is the 3rd reading in a row where the manufacturing sector has shrunk. As mentioned many times before, this isn’t at […]
Economics:
The Bank of Canada reported that it doesn’t see credit conditions returning to normal until 2010. Growth in 2008 is expected to be weak but still positive 1.4%; 2009 should see strengthening to 2.4% and 2010 should see growth of 3.3%. Given the weakness forecasted, expect the BOC to continue cutting interest rates at […]
