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03/02/11 ECONOMIST REPORT. Economic Indicators Recap. Rising Prices. Rising Prices – Middle East Effect. Oil futures rise to $102.60 (new high). Libya produces 1.68 million barrels/day. Gadhafi fighting protesters reduces output. World consumption = 87.5 million barrels/day. Rising demand.

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rising prices middle east effect
Rising Prices – Middle East Effect
  • Oil futures rise to $102.60 (new high).
  • Libya produces 1.68 million barrels/day.
  • Gadhafi fighting protesters reduces output.
  • World consumption = 87.5 million barrels/day.
  • Rising demand.
  • Saudi Arabia countermove.
  • $3.09/gallon of gas.
rising prices another possibility
Rising Prices – Another Possibility
  • QE2 under way.
  • $600 billion currency infusion into economy.
  • Highly praise, now going too far?
  • Inflation fears.
  • Joneson, “Self-perpetuating upward price cycle could pull market back.”
effect on industries
Effect on Industries
  • Discretionary spending decreases dramatically.
  • Restaurants historically hit hard by rising oil prices.
  • Popular stocks: oil, alternative energy.
looking ahead
Looking Ahead…
  • U.S. government response to escalating violence in Libya.
  • Federal Reserve’s response to escalating prices in U.S.
  • March 4: Employment Situation.
  • March 4: Factory Orders.
  • March 11: Retail Sales.
  • March 16: Housing Starts.
  • March 17: Industrial Production.