EU regulators defend electricity market design
India explores purchase of Russian oil assets
EU LNG imports running at full capacity ($BBG)
China admits epidemic supply disruption (trans.)
EU struggles with payment for Russian gas
Austria’s payment for Russian gas ($BBG)
EU options for sanctioning Russian oil ($WSJ)
South Asia’s fuel-oil power generation ($BBG)
U.S. REAL FINAL SALES to private domestic purchasers (FSPDP) increased at an annualised rate of 3.7% in the first quarter, accelerating from 2.6% in the fourth quarter, according to advance estimates published on April 28.
Real FSPDP excludes the effect of foreign trade as well as the temporary impact of changes in government spending and inventory accumulation and depletion, so is the most useful measure of underlying spending by households and businesses. The economy exhibited strong momentum in the first three months of the year.
But headline real gross domestic product shrank at an annualised rate of 1.4% in the first quarter as a result of negative effects from foreign trade (-3.2 percentage points), inventory accumulation (-0.8 percentage points) and slower government spending (-0.5 percentage points):
U.S. S&P 500 equity index has risen just 2.5% over the last twelve months; the slow increase is consistent with an end-of-cycle recession or mid-cycle slowdown:
U.S. CONSUMERS were the most negative about the government’s economic policy in March for seven years – with levels of disapproval consistent with recessions and mid-cycle slowdowns in the past:
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