- Energy Secretary Samuel Bodman said Wednesday the Bush administration has decided to release oil from the Strategic Petroleum Reserve to help refiners meet any shortfalls because of Hurricane Katrina, news services reported.
- The U.S. economy grew at an annual rate of 3.3% in the second quarter, down from 3.8% in the first quarter, the Commerce Department reported Wednesday.
- Manufacturing growth in the Chicago unexpectedly contracted from 63.5 to 49.2 in August, its first contraction in more than two years, the National Association of Purchasing Management-Chicago said in its monthly report issued Wednesday.
- The U.S. Department of Energy said that:
- Crude oil supplies were down 1.5 million barrels last week to 321.4 million barrels.
- Supplies of unleaded gasoline were down 500,000 barrels
- Heating oil supplies were up 1.7 million barrels.
- Japans Industrial production was down 1.1%.
- Canada's GDP was up 0.2% in June and up 2.7% from a year ago.
- Germany's unemployment rate improved in August from 11.5% to 11.4% -- 4.728 million people are out of work.
- The increase in second quarter GDP in the Euro zone was revised down from 1.2% to 1.1% from a year ago.
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