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

To: Chispas who wrote (13631)	10/19/2004 9:37:16 AM
From: mishedlo	Respond to of 116555

Spain 3 pct GDP growth target for 2005 ´further away than in July´ UPDATE Tuesday, October 19, 2004 9:31:23 AM afxpress.com Spain 3 pct GDP growth target for 2005 'further away than in July' UPDATE (Updates with minister's forecast for Q3) MADRID (AFX) - The government's forecast for Spain to achieve 3 pct GDP growth in 2005 from 2004 is "further away than it was in July," due to the increase in oil prices, Economy and Finance Minister Pedro Solbes said Speaking at the opening of the Intereconomy Forum in Madrid, Solbes said that he plans to wait until fourth quarter figures for this year before making a concrete forecast Last Friday, EU economic and monetary affairs commissioner Joaquin Almunia told reporters that he considers the 3 pct growth forecast to be "optimistic" The economy minister added that he expects third quarter GDP growth for Spain to come in at 2.6-2.7 pct.

To: Chispas who wrote (13631)	10/19/2004 9:37:55 AM
From: mishedlo	Respond to of 116555

U.S. housing starts off 6% to 1.898 mln in September Tuesday, October 19, 2004 1:09:34 PM afxpress.com WASHINGTON (AFX) -- U.S. homebuilders slowed their pace of new construction in September, with housing starts coming in 6 percent lower to put the seasonally adjusted, annual rate at 1.898 million units, the Commerce Department said Tuesday Economists had expected a decline to 1.93 million starts, according to a survey conducted by CBS MarketWatch. New construction of single-family homes fell 8.2 percent last month, yielding an annual rate of 1.540 million, while starts of apartment buildings rose 4.7 percent to 328,000 units Meanwhile, building permits rose 1.8 percent to a 2.005 million annual pace. September's permits for single-family homes rose 0.1 percent to 1.558 million Housing starts in August were revised slightly higher to 2.020 million from 2 million, while permits also were revised higher: to 1.969 million from 1.952 million in the previous estimate September's housing starts fell in all of the nation's four regions. Starts in the Northeast fell 26.9 percent to 147,000, while starts in the West sank 7.9 percent to 493,000. Starts in the South, the nation's largest region, slipped 1 percent to 904,000, with starts in the Midwest falling 4.6 percent to 354,000 Over the past 12 months, housing starts have fallen by 1.2 percent, according to the Commerce Department's data But so far in 2004, 1.496 million housing units have been started, up 8.7 percent from last year. This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com

To: Chispas who wrote (13631)	10/19/2004 9:49:25 AM
From: mishedlo	Respond to of 116555

BLS - Real Earnings bls.gov Real average weekly earnings were unchanged from August to September after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.2 percent increase in average hourly earnings was offset by a 0.2 percent rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged. Data on average weekly earnings are collected from the payroll reports of private nonfarm establishments. Earnings of both full-time and part-time workers holding production or nonsupervisory jobs are included. Real average weekly earnings are calculated by adjusting earnings in current dollars for changes in the CPI-W. Average weekly earnings rose by 3.0 percent, seasonally adjusted, from September 2003 to September 2004. After deflation by the CPI-W, average weekly earnings increased by 0.6 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $530.88 in September 2004, compared with $520.33 a year earlier.