Germany seems to have had good employment figures yesterday, but apart from that, the picture seems a little bit gloomy.
According to the BBC, manufacturing in the Midlands has seen a slowdown. Companies are hesitating to do any capital expenditure in view of falling demand worldwide, and consequently not recruiting either.
Hopefully, with the Oil price currently under $100 a barrel for Brent and $84 for Nymex, things may start to turn for the better, with the proviso that the Oil price remains at these levels for about six months. That, and only that, could help repair the damage and dislocation the world economies have suffered while the Oil price has been so unnecessarily high, unaffordable and making an uphill task more difficult.
Not very long ago, the Algerian Oil Minister was saying that a lot of the projects in the Arab world will not happen if Oil falls below $70 a barrel. Hopefully, an affordable price balance will prevail, creating continuation of the Recovery worldwide, and happiness for all nations. For that I pray.
Durudarshan - Investment Analysis