October 5, 2011
Carrick: North American stock markets drop amid Greek sovereign debt concerns, protectionist sentiment
Stock indices in North America were up early this year and demand from affluent consumers overseas for appliances, automobiles and infrastructure have helped stimulate demand for raw materials in Canada.
The emerging markets have also stimulated demand for engineering services in the U.S. However, in late summer, stock indices fell amid concerns that the government of Greece will default on its debt. Prices of raw materials, including gold and oil, also fell.
For more analysis of the latest economic data, please see Weak stock markets, a Greek haircut and protectionist fervor by Alex Carrick, chief economist, Reed Construction Data Canada. In his latest blog post, Carrick discusses the performance of North American stock markets in the context of statistics from the Purchasing Managers’ Index (PMI) of the Institute of Supply Management (ISM) and concerns over protectionism in the form of the American Jobs Act, and sovereign debt in Greece and elsewhere.
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| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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- More
