U.S. Real GDP in the second Quarter 2019 Increased for all 50 states
November 7, 2019 Real GDP in the second quarter of 2019 increased for all 50 states and the District of Columbia. According to the U.S. Bureau of Economic Analysis (BEA), “the percent change in real GDP in the second quarter ranged from 4.7 percent in Texas to 0.5 percent in Hawaii.” The BEA also noted that, “professional, scientific, and technical services; government; real estate and rental and leasing; and mining were the leading contributors to the increase in real GDP nationally. Mining increased 23.5 percent for the nation and was the leading contributor to the increases in Texas, Wyoming, Alaska,
Gas Price Movement – November 7, 2019
November 7, 2019 Brent Oil Brent oil prices increased by 3.72% or US$2.24, as prices decreased this week relative to the prior week. Oil traded on November 07, 2019 at a price of US$62.47 per barrel relative to US$60.23 on October 31, 2019. Brent oil began the year at US$54.91 per barrel. Petrojam prices 87 Octane prices increased this week by 0.91% (JMD$1.17). Additionally, 90 Octane increased by 0.89% or (JMD$1.17) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$129.65 and J$132.49 per litre respectively. Figure 1:
LASD reports 17% decline in net profit for the six months period
November 6, 2019 Lasco Distributors Limited (LASD), for the six months ended September 30, 2019, posted 7% growth revenues to $9.41 billion, up from $8.78 billion in the corresponding period in 2018. For the quarter, revenues increased by 13% closing at $5.07 billion (2018: $4.50 billion). Cost of sales amounted to $7.51 billion, up 7% on the $7.01 billion reported in the prior comparable period. Within the second quarter, cost of sales went up by 12% to $4.03 billion versus $3.60 billion in the previous quarter in 2018. Consequently, gross profit recorded an increase of 7% year over year, closing