Quick Overview

• U.S. Housing starts were down 10.2% MoM and down 31% YoY.
  

• U.S. consumer prices rose 0.3% MoM and 2.8% YoY
  

• The adjustment from recent financial market turmoil is "far from over" though the situation seems to have improved, a senior New York Federal Reserve Bank official said.
  

• The Fed’s Beige Book said economic activity continued to expand in all Districts in September and early October but the pace of growth decelerated since August.
  

• The USDA is reporting the first Asian soybean rust finding in Indiana, in addition to several new cases in Iowa and Missouri

• The U.S. Department of Energy said that:
  Supplies of crude oil rose 1.8 million barrels to 321.9 million barrels.
• Supplies of gasoline rose 2.8 million barrels
  Supplies of heating oil rose 1.2 million barrels.
  Refinery use fell from 87.8% to 87.3% of capacity.
  Gasoline demand fell 0.5% YoY
  Distillate demand rose 0.9% YOY
  The Strategic Petroleum Reserve increased by 500,000 barrels.
  
  

• The U.K.'s unemployment rate remained at 5.4%, down 0.2% YoY.
  
  

• The International Monetary Fund said that they expect world GDP to increase 5.2% in 2007 and 4.8% in 2008.