Tuesday, August 24, 2010

EconomicsUSA: Key indicator: Oil slopes to 3-mnth low points, gas 8-mnths gas, housing dwnwrd, jobs down

MarketWatch's latest report on a key indicator for the overall health of the USA economy (Claudia Assis; posted 3:04, Aug 24, 2k10, MW), gave the most recent info on gas and oil in the commodites futures market. Again, for the purpose of mapping, all within the energy sector.

Crude oil (unrefined) dropped its price at the pump by 2% -- "with prices sent deeper into the red after a gauge of housing activity showed its biggest drop ever. Crude oil for October delivery was off $1.47 to settle at $71.63, an eleven-week low for oil."

Then MW's reporter adds:

Gasoline for September delivery settled at $1.85 a gallon, gasoline's lowest price since December 2009.

Energy Sector

* Oil futures -- down in Aug24,2k10 snapshot of this market specialty in energy sector.

* Gas futures -- down in Aug24,2k10 snapshot of this market speciality in energy sector.

Housing Sector -- down in Aug24,2k10 snapshot of this second major sector.

Jobs Sector -- down again in Aug24,2k10 snapshot of this third major market sector, individual jobs upon hire for agreed-upon pay, of course benefits amounts to be deducted from the pay (many unions insert such clauses, especially in closed shops).

Three sectors and four diverse markets afford us also with a zoom-in to conveniently cross compare the energy sector > petroleum industry > oil subindustry, preprocessing functions like drilling, extracting, pumping, transport (pipeline, vehicular or other). And its cousin subindustry within the petroleum products industry/ies of the energy sector -- gas or, as Canadians say, petrol, and which commodity in Canada is measured in metrics, not the USA's customary English naming practice over the centuries such as our American folks have adopted as their own.

It's scary to try to monitor possible indicators of a downward trend in the economy, but unsavory indications must be pursued as events unfold (I hate to say what I think, especially written writtled down) down.

-- EconoMix

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