Thursday, October 13, 2005

Quick Overview

  • The Commerce Department said the August trade gap grew 1.8 percent to $59.0 billion, just below economists' forecasts of $59.5 billion. Record imports of $167.2 billion easily overwhelmed record exports of $108.2 billion.

  • Import prices rose 2.3 percent after a 1.2 percent gain in August, the Labor Department said today in Washington. The increase excluding oil was the largest since record-keeping started in January 1989 because of increases in natural gas prices.

  • First-time claims for unemployment benefits fell by 2,000 to 389,000 in the week ending Oct. 8, the Labor Department said Thursday.


  • Refco Inc. (RFX) reeling from the disclosure that its chief executive officer hid unpaid debts, barred clients from withdrawing funds saying that one of its units doesn't have enough liquidity to keep doing business.

  • Canada and Mexico are increasing their allegations the U.S. is breaching the terms of the North American Free Trade Agreement to protect domestic producers.

  • Italian industrial production in August rose 1.3% -- three times more than forecast by economists.



  • GDP in the Euro zone was up 0.3% in the second quarter and up 1.1% YoY.

  • Canada's exports in August were up 1.5%

  • Statistics South Africa said that YoY gold mine production was down 3.9% in June to August.

  • The unemployment rate in Australia increased from 5.0 to 5.1%

  • A Crisis could be threatening for world shipbuilders investment banker Morgan Stanley warned that overcapacity in the industry could be as much as 30% by 2008.

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