» 01/18/2012, 00.00
Baltic Dry Index plunge signals a major drop in economic activity
Index loses 53 per cent in three years. It is a measure of maritime shipping costs for commodities like minerals and grains (with the Pacific Ocean as the hub). The recent decline reflects trends in industrial output in Asia, especially China.
Baltic Dry Index falls to record low
Index hits 662 points. The previous low was in 2008, during the Lehman Brothers crisis. The drop reflects the steep decline in demand for raw materials, consequence of a worldwide economic slowdown. Expert tells AsiaNews that ship overcapacity is the main reason for the fall. Loans to big ship-owners now start to look shaky.
Deflation leads to lowest prices in six years
Consumer price index drops by 1.6 per cent in February. Many are now concerned that deflation might take hold with a negative impact on industrial output, already affected by the collapse of exports.
Asian markets down as fears over exports to US grow
Tokyo and Hong Kong lose almost 3 per cent. US data show drop in retail sales. In China industrial profits plunge 32.3 per cent in first quarter.
Beijing, industrial production falls for a fourth consecutive month
The data is still unofficial, but the sector is still below 50 PMI points and therefore technically in contraction. Experts speak of "stabilization" of the national economy, but imports and exports do not seem capable of returning to pace of recent years. The government stimulus ends up in equities and has not reached the real economy.
China, industrial production falls at the fastest pace in last six years
Drop in PMI data for sixth consecutive month., lowest recorded since 2009, in the middle of the global economic crisis. Global stock markets register losses amid fears of another Black Friday.
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