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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: zonder who wrote (13484)	10/15/2004 8:13:15 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

ECB´s Trichet says high oil price increases economic uncertainty UPDATE Friday, October 15, 2004 12:02:41 PM afxpress.com ECB's Trichet says high oil price increases economic uncertainty UPDATE (Updates with further quotes on growth outlook, oil price) FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet said the high oil price is increasing the uncertainties around the euro zone economic outlook, although the bank still expects the recovery to continue. "It is true that uncertainties are augmenting with the increase in the price of oil and the uncertainty on the future price of oil," Trichet told Bloomberg News TV in an interview But he added: "The ongoing recovery is confirmed and it is our working assumption" Trichet said the euro zone economy has been growing at an annualised pace of around 2.1 pct for the last four quarters, and the ECB expects it to "continue at that pace" [do these guys really believe this crap or are they just hoping? I would like to know that - mish] He said the oil price is currently "too high" ."There is perhaps an overshooting that we are observing today, and I hope that all partners live up to their responsibilities," Trichet said [This is rather vague. WTF is he talking about - mish]

To: zonder who wrote (13484)	10/15/2004 8:19:02 AM
From: mishedlo	Respond to of 116555

Japan´s electricity consumption hits record high in April-September Friday, October 15, 2004 9:17:21 AM afxpress.com Japan's electricity consumption hits record high in April-September TOKYO (AFX) - Electricity consumption in Japan surged to a record high in the six months to September due to the scorching summer and economic upturn, the Federation of Electric Power Companies of Japan said in a preliminary report Electricity consumption over six months totaled 478.3 bln kilowatt-hours, up 5.3 pct from the same period a year earlier, the industry body said. Last summer's record-breaking heat wave boosted the use of home air conditioners, while electricity demand from corporate users rose as a result of the nation's economic upturn and increased industrial output Of Japan's 10 power companies, only Okinawa Electric Power Co reported a decline in electricity supply during the period, down 0.3 pct from a year earlier