Just over a year after the biggest financial crash since the Great Depression, financial investors are pouring record amounts of cash into commodities and are likely to increase their investments next year, according to Barclays Capital.
Institutional investors are believed to have put a record $60 billion into commodities in 2009
In the first nine years of this decade China added an average of $1.50 in new credit to the economy to produce each incremental dollar of output. With so much money chasing domestic investments, that ratio has jumped to $7 of fresh credit for each additional dollar of GDP this year, estimates Pivot Capital Management, a Monaco hedge fund.
Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI)
increased $45.7 billion, or 0.4 percent, in October
...
Private wage and salary disbursements increased $2.1 billion in October, in contrast to a decrease of
$6.2 billion in September. Goods-producing industries' payrolls decreased $3.3 billion, compared with
a decrease of $6.8 billion; manufacturing payrolls decreased $3.6 billion, compared with a decrease
of $0.3 billion. Services-producing industries' payrolls increased $5.4 billion, compared with an
increase of $0.6 billion. Government wage and salary disbursements increased $0.6 billion, in contrast
to a decrease of $1.7 billion.
...
Personal saving as a percentage of disposable personal income was 4.4 percent in October,
compared with 4.6 percent in September.
ARLINGTON, VA — The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.2 percent in October, following a 0.3 percent contraction in September. The latest decline lowered the SA index to 103.6 (2000=100) from the revised 103.8 in September. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 109.6 in October, up 1.6 percent from September.
Compared with October 2008, SA tonnage fell 5.2 percent, which was the best year-over-year showing since November 2008. In September, the index was down 7.3 percent from a year earlier.
"Car sales in China are booming [in the third quarter], but gasoline sales seem to be stuck in the slow lane," wrote Standard Chartered analysts headed by Stephen Green in Shanghai .
...
Assuming most vehicles older than 10 years are scrapped, China 's car stock this year is set to rise about 24% to 32 million vehicles if sales remain on track in the fourth quarter.
That compares with a 10% rise in gasoline consumption for the first half of the year, according to data from China Oil, Gas and Petrochemicals, an energy-industry publication cited by Standard Chartered.
Green says the gap between rising car ownership and fuel demand can be also explained by improving efficiency.
Indications are that consumers are retiring gas guzzlers in favor of more economical models.
Vehicles with engine sizes of less that 1.6 liters accounted for about 70% of all car sales so far this year, up from 62% from 2008, spurred by tax breaks and other government incentives.
Overall freight traffic fell 14 percent in September compared to the same month a year ago, the AEA said, the smallest year-over-year decline since November 2008.
But the traffic also slipped 0.5 percent from August, the second straight month-to-month setback, which suggested the steady improvement in demand had peaked heading into the fall shipping season.
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