- Bush is "considering" a stimulus plan that would offer tax rebates for individuals and tax breaks for businesses.
- Goldman's Jan Hatzius issued a recession call. He says the economy should contract modestly through late 2008, with a gradual recovery during 2009. The recession is likely to last two to three quarters and should be relatively mild by historical standards, he says.
- GDP in the Euro area rose 2.7%
- The U.S. Department of Energy said that:
Supplies of crude oil fell 6.8 million barrels to 282.8 million barrels.
Supplies of gasoline rose 5.3 million barrels
Supplies of heating oil fell 2.3 million barrels.
Refinery use rose 89.4% to 91.3% of capacity.
Gasoline demand rose 0.4% YoY
Distillate demand rose 4.9% YoY
- India’s 12 major ports have had a 22.16% increase in container throughput volumes between April and November, 2007.