Friday, July 29, 2005

Quick Overview

  • The U.S. economy grew at a 3.4 percent annual pace from April through June, the ninth straight quarter exceeding 3 percent.

  • China's National Grain and Oil Information Center issued an estimate for this years Chinese Corn production at 128 mmt. versus 132 mmt. last year.

  • A 25% slump in house prices would wipe out $4.5 trillion of household wealth but wouldn't be as damaging as the Internet bust, according to Janet Yellen, president of the San Francisco Federal Reserve Bank.

  • The University of Michigan's consumer sentiment index increased from 96.0 to 96.5 in July

  • Canada's GDP was up 0.3% in May and up 2.8YoY.

  • France's unemployment rate fell from 10.2% to 10.1% in June, the first improvement in six months.

  • The unemployment rate in Japan dropped from 4.4% to 4.2% in June, the lowest in seven years. Consumer prices in June were down 0.5% YoY. Industrial production was up 1.5% in June. Household spending was down 1.4% in June.

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