Quick Overview

The Economic Cycle Research Institute
an independent forecasting group, said its weekly leading index rose to 135.2 in the week ended March 4 compared with 134.9 in the previous week.

Greenspan Says Worried on Budget
"Our fiscal prospects are, in my judgment, a significant obstacle to long-term stability because the budget deficit is not readily subject to correction by market forces that stabilize other imbalances," he said.

Trade Deficit at 2nd Highest Ever
The Commerce Department reported Friday that the January trade gap was 4.5 percent higher than December's $55.7 billion deficit and was just below the all-time high monthly deficit of $59.4 billion, recorded in November. (But it's not our fault. It's the fault of those foreigners that save.) US's Snow-Blame slow growth abroad for trade gap


Brazil's Vegetable Oils Industry Association said that the Soybean crop is only 53.9 million tons. Southern Brazil is still dry with chances for light showers coming on Sunday.

Dow Jones Newswires reported that Colombia expects to have another 11.5 million (60-kg) bag coffee crop in 2005-2006.

ED&F Man has global sugar stocks falling by 5 million tons in 2004-2005. About the same as the USDA's estimate of a 4.8 million ton drop in ending stocks.



Fiber market set for real growth, says Corning scientist .. every sector of fiber telecom grew in 2004, including metro, premises, and submarine/long-haul. Although long-haul and ultra-long haul suffered three successive years of decline, that market grew 15 percent in 2004, albeit from a sharply-reduced base..."There is no first, second, or third world any more, because everyone is feeling the pressure of joining the fast world."

Canada's exports fell 1.6% in January to C$35.9 billion - imports increased 1.9% to C$31.9 billion. And Canada's unemployment rate in February was unchanged at 7.0% with a net gain of 27,000 new jobs.

The International Energy Agency increased their estimate of world oil demand to 84.3 million barrels per day in 2005. Less than the U.S. Department of Energy's 84.7 million barrel per day estimate.