1) The retailer giant Amazon is expanding into the grocery business by leasing retail space across the Los Angeles area, signing leases for more than twelve locations. This is the first step of plans to open grocery stories across the nation. Amazon job postings are looking for people to work in retail concepts for a multiple customer experiences under one roof. Stores are reportedly to be about 35,000 square feet and intended to compete with big box stores such as Walmart, Target and Kroger.
2) The Institute for Supply Management says its manufacturing index dropped to 47.8 last month, the lowest since June 2009, below the forecast 49.1. Indexes below 50 indicate a contraction in manufacturing. Manufacturing accounts for 12% of the GDP (Gross Domestic Product), so a slowdown could effect other parts of the economy. Other indicators have shown output increased over last month.
3) Oil prices record its weakest quarter since late last year as fears over a global economic slowdown overshadowed the attacks on Saudi Arabia’s oil production facilities. Brent futures are down 8.7% since the end of June, despite the peak after the attacks. The price of oil is considered an economic indicator, since demand goes down as economies slow down, making more oil available, thus causing oil prices to decline.
4) Stock market closings for – 1 OCT 19:
Dow 26,573.04 down 343.79 Nasdaq 7,908.68 down 90.65 S&P 500 2,940.25 down 36.49
Wrap up of 2018 episode, Sammy BE (Bizman Bassey), James Lyman &
on the boards, magic Jon Don Sterling. The trio discussed topics and
issues ranging from economy, business, trade, and a little politics, for
the year of 2018.
Sammy and James spoke on the trade policies
with China, the new USMCA Trade Agreement between USA, Mexico, &
Canada (replacing of NAFTA). Problems that may have handicapped General
Motors (GM); Saudi Arabia policy & reporter death of Jamal
Khashoggi. The gentlemen ended of the 2018 year speaking of the
improving US economy (GDP) and the new Congress (Democratic House,
Republican led Senate), that will be entering in January 2019.
This a mouthful that you don’t want to miss, ending of 2018 wrap up episode…. Happy New Year… See You In 2019
We have a new section on Economic & Finance Report, entitled EARS To The GROUND…
EARS To The GROUND,We will be showcasing daily reporting from new around the world (mainly on economic, economy, business, finance, but not limited to) news sources that is readily available, and has been readily available.
EARS To The GROUND, will be providing tid-bits from news around the globe that our readership may not know is available or would want insight on….
Stay Tuned 4 EARS To The GROUND…….. SB
1) Slow growth of European manufacturing continues for 18 months as a result of fears of international trade. The issue of trade tariffs and the impact of exports from Europe leave manufactures reluctant to invest in expansion fearful that their markets may diminish leaving them high and dry..
Latin America will contract this year, about -0.6% according to the The Economic Commission for Latin America and the Caribbean (ECLAC). Some Latin American countries in the region are either heading to a recession or are already in a recession.
There has be slow growth rate recorded in some countries within the region, and the slow development of China and other emerging markets have not made it easier for Latin America to do substantial trading, without the growth of Latin America’s trading partners such as China, it makes it hard for Latin America to export and generate revenue from sales of goods and products. Much of South America trades commodities with China, and this variable definitely provides the contraction period to extend throughout the whole year of 2016.
In Central America, economies are seeing a decline of -1.9% from the previous year, which was 4.3% (2015) and it is currently 3.9% (2016), according from the data reported from (ECLAC).
The Latin Caribbean countries reported growth of 0.9% from the previous year in 2015 (ECLAC). -SB