Econintersect: Yesterday GEI News reported that all major Asia/Pacific markets were headed south. They are still on the same trip today. The eleven Far East markets followed by GEI are all down again today (March 11) in midday trading. The strongest markets are Mumbai (Bombay, down 0.1% and Shanghai down 0.3%.
Econintersect: State personal income growth slowed to an average 0.7 percent in the third quarter of 2010 down from 1.4 percent in the second quarter, according to estimates released by the U.S. Bureau of Economic Analysis. The slowdown was spread widely across the country with growth decelerating in 41 states, unchanged in 3, and accelerating in 6 states. The national price index for personal consumption expenditures increased 0.3 percent in the third quarter after remaining unchanged in the second quarter.
Econintersect: All ten major markets in Europe followed by GEI declined Thursday (March 10, 2011). The leaders in the sell-off were Oslo (-1.8%), London(-1.6%), Amsterdam and Madrid, down 1.1% each, and Franfurt almost 1% lower. The smallest loss was in Brussels, -0.4%.
Econintersect: Oil prices declined significantly Thursday (March 10). In New York WTI (West Texas Intermediate) crude declined by 1.6% to $102.70 and the nearest NYMEX futures contract declined even more to $102.47. Brent crude (London) declined less, by 0.6% to $114.76. The premium for Brent increased to $12.06, up from $10.94 yesterday and from $7.65 Tuesday. The premium peaked at $16.50 on March 1.
Econintersect: All eleven Asia/Pacific stock markets followed by GEI are in the red midday Thursday (March 10). Five are down by 1% or more. The smallest loss is -0.2% for New Zealand.