Getting better all the time
Getting better all the time
Over the past couple of years, many consumer spending and reduced energy management program in place.
companies flocked to the solar industry consumption. High inventory levels (Charts
as it was considered a safe haven from 17-20) are plaguing companies throughout In summary
diminished electronic equipment demand. the entire food chain as a result of The solar industry will not lead the
The solar industry clearly has too the “bottom falling out quickly” and economy out of recession, but residential
much capacity (Chart 16) from retrenched companies not having a “JIT” inventory demand will recover in step with inflation.
20090815
Industrial Production - World
20090814
U.S. Industrial Production
% Change vs. One Year Earlier
Index (2002=100)
(Seasonally Adjusted)
116
112
108
104
100
96
92
88
84
80
76
72
68
64
1 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7101 4 7
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09
Calendar Year
Economist 8/2009 http://www.economist.com Output, prices and jobs
www.federalreserve.gov/releases/g17/table1_2.htm
Chart 3. Chart 4.
20090718 20090808
Industrial Production
U.S. GDP Growth with Forecast
Europe
Quarter-to-Quarter
Index (2005 avg month = 100)
120
% Change
115
5.4
110
5.0
4.1
Forecast
3.1 3.0 3.2
3.6
105
2.8
2.3
1.7
2.1 2.1
1.4
1.2
1.5
1.8
100
0.6
0.1
0.0
Eur27
95
Germany
-0.7
-1.0
90
France
-2.7
UK
85 Italy
-5.0
Series 6
-5.4
80
-6.4
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5
05 06 07 08 09 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2
05 06 07 08 09 10
CALENDAR YEAR
Eurostat
WSJ: Economist Panel Consensus Forecast 5/13/09, DOC 2Q'09 update 8/09
Chart 5. Chart 6.
20090720 20090707
Spot Oil Prices - US$ & Euros
World "Purchasing Managers" Index
W Texas Intermediate Crude
Price/Barrel DIFFUSION INDEX
150 58
140
US$ 56
130
Euros 54
120
52
110 EXPANSION
100
50
CONTRACTION
90 48
80 46
70
44
60
42
50
40
40
30
38
20 36
10
34
0
32
1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7
1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7
89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09
07 08 09
CALENDAR YEAR
JPMorgan
www.nymex.com/lsco_fut_cso.aspx
Chart 7. Chart 8.
www.globalsolartechnology.com
Global Solar Technology – October/September 2009 – 15
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