Wednesday, November 29, 2006

Quick Overview

  • QoQ U.S. GDP was up 2.2%, and up 3.0% YoY. Nominal GDP was up 6.0% YoY.

  • Federal Reserve Chairman Bernanke said he expects moderate economic growth with lower inflation. The one risk of higher inflation, he warned, might come from tight labor supplies.

  • The Federal Reserve's Beige Book said that most districts reported "continued moderate growth since the last report" and increased consumer spending.

  • U.S. New home sales were at an annual rate of 1.004 million units in October, down 3.2% from September's pace and less than expected. YoY new home sales are down 18%.

  • Brazil's central bank lowered its benchmark lending rate to 13.25% from 13.75%

  • Japan's industrial production increased 1.6% in October, more than expected and a new record high.

  • The U.S. Department of Energy said that:
    Supplies of crude oil were down 300,000 barrels to 340.8 million barrels.
    Supplies of unleaded gasoline were down 600,000 barrels
    Supplies of heating oil were down 1.1 million barrels.


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