Chile: All Signs Point to Buoyant Domestic Demand
Nader Nazmi - Market Economics
Latam Macro Snapshot | 18 Mar 2013 17:17 |
Data releases today confirm that domestic demand strength underpinned a rapid rise in real output and widened the current account deficit in Q4. Recent data indicate that early in Q1 domestic demand continued to grow at a pace that likely exceeded the economy’s potential, increasing the risk of overheating.
Monday, March 18, 2013
Power Shift: Energy Boom Dawning in America
Power Shift: Energy Boom Dawning in America
Published: Monday, 18 Mar 2013 | 11:28 AM ET
By: Patti Domm
CNBC Executive News Editor
Randy Foutch calls it a renaissance, but when you listen to the veteran Texas oilman and others describe America's nascent energy boom, it sounds more like a miracle.
http://www.cnbc.com/id/100563497
Published: Monday, 18 Mar 2013 | 11:28 AM ET
By: Patti Domm
CNBC Executive News Editor
Randy Foutch calls it a renaissance, but when you listen to the veteran Texas oilman and others describe America's nascent energy boom, it sounds more like a miracle.
http://www.cnbc.com/id/100563497
Friday, March 15, 2013
China: Rising risks of financial crisis
Asia Special Report: China: Rising risks of financial crisis
· China is displaying the same three symptoms that Japan, the US and parts of Europe all showed before suffering financial crises: a rapid build-up of leverage, elevated property prices and a decline in potential growth.
· China is displaying the same three symptoms that Japan, the US and parts of Europe all showed before suffering financial crises: a rapid build-up of leverage, elevated property prices and a decline in potential growth.
Turkey: December unemployment rate
Turkey: December unemployment rate
Temporary rise in the unemployment rate
In December, seasonally adjusted unemployment rate increased 0.1pp to 9.6%, and non-farm unemployment rate increased 0.2pp to 11.8%, on our calculations. The employment and participation rates remained strong at 46.0% and 50.9% respectively, only a tad below the record high levels of 46.1% and 51.0% in November.
Temporary rise in the unemployment rate
In December, seasonally adjusted unemployment rate increased 0.1pp to 9.6%, and non-farm unemployment rate increased 0.2pp to 11.8%, on our calculations. The employment and participation rates remained strong at 46.0% and 50.9% respectively, only a tad below the record high levels of 46.1% and 51.0% in November.
Turkey: Strong increase in fiscal revenues and spending in February
Turkey: Strong increase in fiscal revenues and spending in February
Central government primary balance was TRY 3.5bn in February, significantly lower compared to the surplus of TRY 6.0bn in February 2012. The deterioration in the fiscal balance came despite stronger budget revenues, which increased 18% y/y. On the other hand, non-interest expenditures rose much faster by 34% y/y. The additional spending in February stems from payments to contractors and transfers to social security institution.
Central government primary balance was TRY 3.5bn in February, significantly lower compared to the surplus of TRY 6.0bn in February 2012. The deterioration in the fiscal balance came despite stronger budget revenues, which increased 18% y/y. On the other hand, non-interest expenditures rose much faster by 34% y/y. The additional spending in February stems from payments to contractors and transfers to social security institution.
Housing Recovery 'Fundamentally Strong': Lennar CEO
Housing Recovery 'Fundamentally Strong': Lennar CEO
Published: Friday, 15 Mar 2013 | 11:26 AM ET
By: Diana Olick
CNBC Real Estate Reporter
Despite being headquartered in one of the states hardest hit by the housing crash, the CEO of Miami-based Lennar Homes said he is bullish both on the rental side of the business and the single family side. No wonder, Lennar recently announced it was getting into multi-family apartment construction.
http://www.cnbc.com/id/100558148
Published: Friday, 15 Mar 2013 | 11:26 AM ET
By: Diana Olick
CNBC Real Estate Reporter
Despite being headquartered in one of the states hardest hit by the housing crash, the CEO of Miami-based Lennar Homes said he is bullish both on the rental side of the business and the single family side. No wonder, Lennar recently announced it was getting into multi-family apartment construction.
http://www.cnbc.com/id/100558148
How Are the SBA’s Loan Programs Doing?
How Are the SBA’s Loan Programs Doing?
By Karen E. Klein
March 14, 2013
Question: I read your 2011 article about U.S. Small Business Administration loans and wondered what is going on with the SBA loan program for 2013? Are there any new loan programs this year?
http://www.businessweek.com/articles/2013-03-14/how-are-the-sbas-loan-programs-doing
By Karen E. Klein
March 14, 2013
Question: I read your 2011 article about U.S. Small Business Administration loans and wondered what is going on with the SBA loan program for 2013? Are there any new loan programs this year?
http://www.businessweek.com/articles/2013-03-14/how-are-the-sbas-loan-programs-doing
Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors
Viewpoints
March 2013
Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors
Greg E. Sharenow, Mihir P. Worah
• The shale oil revolution in the U.S. is a classic example of high prices and improving technology spurring methods of commodity production that may have been historically unimaginable.
• Although growth in U.S. shale production has not yet been sufficient to meaningfully weaken oil prices, it has had a notable impact on long-term price expectations, on both the upside and downside.
• After acting as a significant brake on economic activity during the run-up in prices during the last decade, greater energy availability will at the very least be a positive for global growth.
http://www.pimco.com/EN/Insights/Pages/Shale-Oil-A-Deep-Dive-Into-Implications-for-the-Global-Economy-and-Commodity-Investors.aspx
March 2013
Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors
Greg E. Sharenow, Mihir P. Worah
• The shale oil revolution in the U.S. is a classic example of high prices and improving technology spurring methods of commodity production that may have been historically unimaginable.
• Although growth in U.S. shale production has not yet been sufficient to meaningfully weaken oil prices, it has had a notable impact on long-term price expectations, on both the upside and downside.
• After acting as a significant brake on economic activity during the run-up in prices during the last decade, greater energy availability will at the very least be a positive for global growth.
http://www.pimco.com/EN/Insights/Pages/Shale-Oil-A-Deep-Dive-Into-Implications-for-the-Global-Economy-and-Commodity-Investors.aspx
Thursday, March 14, 2013
When Will the US Energy Boom Help You Out at the Gas Pump?
When Will the US Energy Boom Help You Out at the Gas Pump?
Published: Thursday, 14 Mar 2013 | 2:39 PM ET
By: Javier E. David
Special to CNBC.com
First, the good news: the U.S. energy sector is being modernized at a breakneck pace, with cleaner and cheaper fuels predicted to drive down prices and to eventually reduce the economy's dependency on foreign oil.
http://www.cnbc.com/id/100554510
Published: Thursday, 14 Mar 2013 | 2:39 PM ET
By: Javier E. David
Special to CNBC.com
First, the good news: the U.S. energy sector is being modernized at a breakneck pace, with cleaner and cheaper fuels predicted to drive down prices and to eventually reduce the economy's dependency on foreign oil.
http://www.cnbc.com/id/100554510
Wednesday, March 13, 2013
An Energy Coup for Japan: ‘Flammable Ice’
An Energy Coup for Japan: ‘Flammable Ice’
Published: Wednesday, 13 Mar 2013 | 8:43 AM ET
By: Hiroko Tabuchi
TOKYO — Japan said Tuesday that it had extracted gas from offshore deposits of methane hydrate — sometimes called "flammable ice" — a breakthrough that officials and experts said could be a step toward tapping a promising but still little-understood energy source.
The gas, whose extraction from the undersea hydrate reservoir was thought to be a world first, could provide an alternative source of energy to known oil and gas reserves. That could be crucial especially for Japan, which is the world's biggest importer of liquefied natural gas and is engaged in a public debate about whether to resume the country's heavy reliance on nuclear power.
http://www.cnbc.com/id/100545740
Published: Wednesday, 13 Mar 2013 | 8:43 AM ET
By: Hiroko Tabuchi
TOKYO — Japan said Tuesday that it had extracted gas from offshore deposits of methane hydrate — sometimes called "flammable ice" — a breakthrough that officials and experts said could be a step toward tapping a promising but still little-understood energy source.
The gas, whose extraction from the undersea hydrate reservoir was thought to be a world first, could provide an alternative source of energy to known oil and gas reserves. That could be crucial especially for Japan, which is the world's biggest importer of liquefied natural gas and is engaged in a public debate about whether to resume the country's heavy reliance on nuclear power.
http://www.cnbc.com/id/100545740
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