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

To: orkrious who wrote (19779)	12/28/2004 9:34:54 PM
From: Mike M2	Respond to of 116555

Ork, missing link news.goldseek.com mike

To: orkrious who wrote (19779)	12/29/2004 1:31:00 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Saudi Oil Two days ago the saudis inaugurated the Qatif Producing Plants Projects, the largest project of it's kind in the world. 500k bbl a day of arab light and 300k bbl of arab medium total production. asia.news.yahoo.com Some other future devolpments. Haradh 2- The second part of the 3 part devolpment still looks to come onstream in 2006. With daily 330k bbl crude and 170k bbl of condensate (refinery and chemicals feedstocks) Abu Hadriyah Fadhili & Khursaniyah should be onstream in 2007 and product 500k additional output of light sweet crude After that the Khurais field is supposed to have a 800k bbl/day output bump, in 2008. There also are multiple small, under 100K/day, projects bumping around the kingdom at the moment. Also of note, Niami indicated that the kingdom may increase their declaired reserves by over 70%. Also there was some indication that they may start reporting updated reserves yearly. news.google.com

To: orkrious who wrote (19779)	12/29/2004 9:39:20 AM
From: mishedlo	Respond to of 116555

German consumer climate index 2.6 in Dec vs 2.4 in Nov Wednesday, December 29, 2004 8:16:57 AM afxpress.com FRANKFURT (AFX) - The German consumer climate index rose to 2.6 points in December from 2.4 points in November, according to a monthly survey by GfK market research GfK expects the index to rise to 2.9 points in January GfK said the economic expectations index, which measures consumers' optimism about the economic outlook, fell 1.3 points in December to minus 18.3 The index measuring consumers' expectations about their own incomes rose 2.3 points to minus 13.5, it said But the index measuring consumers' willingness to spend rose 2.1 points to minus 22.3 The GfK consumer climate survey polls 2,000 people and is carried out on behalf of the European Commission

To: orkrious who wrote (19779)	12/29/2004 9:44:57 AM
From: mishedlo	Respond to of 116555

UK Nov mortgage lending slows, approvals weakest since Jan 2001 - BBA - Wednesday, December 29, 2004 10:02:33 AM afxpress.com (Updating with details on personal debt) LONDON (AFX) - Mortgage lending by major UK banks slumped to the lowest level in nearly three years, while mortgage approvals slipped to their lowest in nearly four years, a key survey of the sector showed today The findings are a clear sign that the UK housing market has started to slow after overheating earlier in the year According to the British Bankers Association, which accounts for about two thirds of all mortgage lending in the country, net mortgage lending in November rose just 4.0 bln stg -- the smallest rise since January 2002 In October net lending rose 4.3 bln stg Giving further details to figures initially released last week, the BBA said approvals of loans for house purchases -- a gauge of future demand -- also slowed significantly Mortgage approvals fell 20 pct from October and 41 pct from November 2003 to their lowest level since January 2001, the BBA said Approvals for remortgaging were also weaker, down 13 pct on October, while equity withdrawal loans fell 5 pct from October's figure The average approval for house purchase was 119,800 stg, up from 113,100 in October, the BBA said. "Weaker mortgage lending in November continued the pattern of reduced demand that we have seen over the second half of this year and there is little to suggest that mortgage appetites will change in the near-term, given the noticeable slowdown in the housing market," said David Dooks, BBA director of statistics He noted, however, that the advent of mortgage regulation had a "small impact" in November, temporarily reducing volumes of equity withdrawal approvals But while the property market may be slowing down, personal debt speeded up. The BBA survey also revealed that loans and overdrafts rose by 800 mln stg in November compared with 307 mln stg in October Credit card debt, however, slowed to 219 mln stg in November from the recent monthly average of 433 mln stg. As a result total net lending rose just 5.029 bln stg in November, up from 4.939 bln stg in October and compared with 6.061 bln stg in the same month a year ago forexstreet.com