Another “unprecedented” news (read here). I told you : it’s every day now.
International air freight traffic plunged by 22.6 percent on the year in December, an ‘unprecedented and shocking’ free fall, the International Air Transport Association said on Thursday.
‘There is no clearer description of the slowdown in world trade,’ it said in a statement, adding that international passenger traffic had dropped 4.6 percent year-on-year.
For the full year of 2008, international air cargo traffic was down 4 percent, while international passenger traffic posted modest gains of 1.6 percent, according to the Geneva-based body. (Forbes)
And what about sea freight ? Unprecedented too in Thailand (read here). Thai exports results ? “Unprecedented” too.
So ask yourself : how are going to be january, february and the following months ? “Unprecedented”. And how will be the crisis fallouts ? “Unprecedented”.
You want more ? Yesterday, USA… Philly Fed Index was published. “Unprecedented” low.
You want more ? Yesterday, USA, “Record Low New Homes Sales in December“.
More ? Today, Japan : “Factory output slumped an unprecedented 9.6 percent in December“.
Do you start to understand ?
Whether we received data in value, volume, or percentage of growth year on year, month on month, moving average etc… we get “unprecedented” readings. More and more.
The black swans are multiplying.
[Have a look on this blog... 20 charts with data released in january to show the on going economic disaster in the USA].
If you don’t understand following is a couple f more ‘unprecedented’ events:
1) Worst January ever for Dow, S&P 500
http://money.cnn.com/2009/01/30/markets/markets_newyork/index.htm
2) Falling orders point to layoffs
Amara Sriphayak, senior director for the bank’s economic policy department, said manufacturing production recorded an unprecedented drop of 18% year-on-year in December, due largely to falling global demand for high-technology goods and automobiles.
http://www.bangkokpost.com/business/economics/10788/falling-orders-point-to-layoffs
I found another one : unprecedented fall of the Manufacturing Production Index (Thailand) in december…
I’m making a new chart, from january 2002 to december 2008.
It speaks a lot.
Will be on line monday or tuesday.