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Quotations of petroleum being held above $ 70 a barrel

Aug 3rd, 2009 | By admin | Category: News International Markets

The long-awaited Friday statistics on U.S. GDP showed that the recession in leading the world economy has proved better than the forecasts, however, despite this, it is still coming to an end, and felt in the economy recovery. The U.S. indices finished a week weak growth. Today's trading in Asia, held with great optimism: MSCI Asia Pacific is growing at 0.5% against the backdrop of the positive statements of Japanese banks, as well as growth in industrial production in China. The commodity market looks strong. Quotations of petroleum being held above $ 70 a barrel.

The end of a record U.S. debt placements removed tension from the markets and allow investors to focus on emerging makrostatistike. As it turned out, the recession in the United States was greater than the projections: the importance of the revised GDP in the first quarter was 6.4%, not 5.1%. Meanwhile, the pace of economic decline during the second quarter were less than the forecast: 1% against expectations of a decrease of 1.5%, which gives hope for the speedy recovery of the country's GDP. However, a more positive picture of the current situation in the U.S. economy has been marred by weak data on consumption, which fell by 1.2% in the second quarter compared with a decline to 0.6% in the first quarter. Chicago PMI index showed a slight improvement in the manufacturing sector in the region: its value was 43.4 to Clause 39 section a month earlier, that is encouraging about the current state of the industrial sector of the economy in general. As can be seen, public support has not yet been able to breathe life into the American consumer, and allowed only to stabilize the situation in production, a full recovery which is unthinkable outside the context of growth in consumer spending, responsible for 2 /3 of the country's GDP. In addition, a very weak labor market will continue to put pressure on the Americans' consumer spending, hindering the country's economic recovery. It was expected that the end of the year, unemployment in the country will exceed 10.5%. Data on employment in the United States will be this Friday and possibly be the reason for playing down at the end of the week. Mixed statistics received from the States did not allow the American indexes show any significant achievements: Dow gained 0,19%, SP - 0,07%. Corporate statistics, released on Friday did not have a significant impact on the balance of power in the market: companies Chevron, Total, Eni - all noted a reduction in profits because of falling prices and production.

Today in Asia are trading at much more positive. The reason is reporting the largest Japanese bank Mitsubishi UFG, which finally went into profit, as well as industrial production growth in China. It is reported that against the backdrop of record-credit lending ($ 585 billion) in the index promproizvodstva Celestial rose to the maximum with the beginning of the year (paragraph 52.8). The growth of the Chinese promproizvodstva cause for optimism regarding the restoration of the region's economy and stimulate speculative demand for the commodity assets. In the view of most economists prices will continue to grow and in 2010, supported this time the real demand from the emerging global economy.

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