Posted by WARREN MOSLER on October 29th, 2009
I use comps from two years ago as last year was unusually choppy.
No sign of gasoline demand picking up that I can detect.
Starting to look like the Saudis decided to give themselves maybe a $10 per barrel price increase,
but too soon to tell.
GDP up some from last quarter but still below last year’s levels.
Inventories contributed .9% after being a drag previously, and motor vehicles contributed 1% to the 3.5% total GDP increase in this initial report.