From The Oil Drum: World oil production peaked in 2008 at 81.73 million barrels/day (mbd) shown in the chart below. This oil definition includes crude oil, lease condensate, oil sands and natural gas plant liquids. If natural gas plant liquids are excluded, then the production peak remains in 2008 but at 73.79 mbd. However, if […]
From Calculated Risk: Total housing starts were at 583 thousand (SAAR) in February, well off the record low of 477 thousand in January (the lowest level since the Census Bureau began tracking housing starts in 1959). Single-family starts were at 357 thousand in February; just above the record low in January (353 thousand). … Housing […]
It’s interesting that there seems to be a long-term declining trend. And, of course, there’s the cliff we’re falling over currently. From Calculated Risk: The Federal Reserve reported that industrial production fell 1.4% in February, and output in February was 11.2% below February 2008. The capacity utilization rate for total industry fell to 70.9%, matching […]
From Calculated Risk: This graph is based on the Manufacturing and Trade Inventories and Sales report from the Census Bureau. This shows the 3 month change (annualized) in manufacturers’ and trade inventories. The inventory correction was slow to start in this recession, but inventories are now declining sharply. This change in inventories will probably have […]
From Calculated Risk: …This graph shows the loaded inbound and outbound traffic at the port of Los Angeles in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container). Although containers tell us nothing about value, container traffic does give us an idea of the volume of goods being exported and imported. Inbound traffic was 35% […]
From Calculated Risk. I’d like to try fitting a curve to that nonlinear growth post-Jan 2006. Parabolic? Exponential? The DOL reports on weekly unemployment insurance claims: In the week ending March 7, the advance figure for seasonally adjusted initial claims was 654,000, an increase of 9,000 from the previous week’s revised figure of 645,000. The […]
From Calculated Risk: From Brad Setser: The fall in China’s exports caught up with the fall in China’s imports, at least for now After soaring for most of this decade — the pace of China’s export growth clearly turned up in 2002 or 2003 and then stayed at a very high pace — China’s exports […]
From Calculated Risk: One more stunning graph from the employment report… From the BLS report: In February, the number of persons who worked part time for economic reasons (sometimes referred to as involuntary part-time workers) rose by 787,000, reaching 8.6 million. The number of such workers rose by 3.7 million over the past 12 months. […]
From Calculated Risk: And from CNN: Unemployment hits 25-year high Jobless rate hits 8.1% in February as a record-high 12.5 million people are unemployed. By Chris Isidore, CNNMoney.com senior writer NEW YORK (CNNMoney.com) — The U.S. economy continued to hemorrhage jobs in February, bringing total job losses over the last six months to more than […]
I love the smooth nonlinearity of the curves since 2006. From Calculated Risk: The DOL reports on weekly unemployment insurance claims: In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week’s revised figure of 670,000. The 4-week moving average was 641,750, […]
