Growth Rates Currency Earnings/Market Outlook Debt Commodity Prices Automotive Housing Starts Steel Volume Freight Index Class 8 Truck Trailers Equipment Oil Rigs Power Generation Cleantech Index Links

1. Key Market Indicators for
North America – June 2016
By: Paul Young, CPA, CGA
July 22, 2016

2. Disclaimer
• This presentation is on view of the key market indicators for North
America

3. Paul Young - Presenter
Bio
• CPA/CGA
• 25 years of experience in Academia, Industry and Financial solutions
• Youtube Channel -
https://www.youtube.com/channel/UCAArky1bAXPSuV2NLtUnyLg

4. Agenda
• Growth Rates
• Currency
• Earnings/Market Outlook
• Debt
• Commodity Prices
• Automotive
• Housing Starts
• Steel Volume
• Freight Index
• Class 8 Truck
• Trailers
• Equipment
• Oil Rigs
• Power Generation
• Cleantech Index
• Links

5. Growth Rates

6. Currency

7. Markets

8. Debt
• It's late June which means it is time for the annual warning by the Bank of International Settlements about the growing futility of monetary
policy and central bank impotence. Exactly one years ago, the BIS asked "Of What Use Is A Gun With No Bullets?", in which the BIS said central
banks are defenseless against the coming crisis. Well, it underestimated just how far the central banking "magic people" are willing to reach
inside their "magic bag of tricks" to preserve the status quo: to be sure nobody at the time expected the ECB to begin buying not just corporate
bonds but junk bonds too.
• Fast forward one year and the song and dance has been repeated, with the issuance of the BIS' 86th Annual report in which we read that "Easy-
money policies and unprecedented monetary stimulus have started to backfire in global financial markets" asBloomberg summarizes the 130
page report, which is largely full of data and analyses quite familiar to regular readers.
• In its report, the BIS "says that historically low interest rates and bond-buying programs - which have sent yields below zero on more than $8
trillion of government bonds, a record amount - are causing anomalies in asset values. One example is that small price differences in related
securities or assets, which banks traditionally eliminated through arbitrage, are persisting more often."
• "Monetary policy is running out of room for maneuver," said Hyun Song Shin, head of research at the BIS, in an interview. “It is not clear how
much further stimulus of the real economy can be achieved using monetary-policy tools alone without inviting unwanted distortions.”
• Like on virtually every occasion since 2013, the BIS on Sunday once again called on governments to reduce their reliance on extraordinary
monetary policy for spurring economic growth. "Instead, they should redouble efforts on structural and financial reforms, it said. The stimulus
produced by the world’s monetary authorities will approach the limits of its effectiveness, according to the BIS, which was formed in 1930 and
acts as the central bank for many of those institutions."
• http://www.zerohedge.com/news/2016-06-26/global-economy-can-no-longer-rely-debt-bis-warns-central-bank-actions-have-started-b

9. Commodity Prices
• BMO Economics

10. Automotive
• Scotia Bank and Ward Automotive
Canada:
Activity re-accelerated last month,
climbing 7% above a year earlier and
lifting volumes to a new record for
June. We estimate that Canadian
vehicle sales nearly reached an
annualized 2.0 million units last month,
up from 1.87 million in May and an
average of 1.97 million during the
previous five months. Light trucks
soared to an annualized 1.31 million
units — the second-highest level on
record — driven by a 20% y/y surge for
imported brands. Pickup truck volumes
were also robust with sales for the
Detroit 3 jumping 16% above a year
earlier. Highlighting the industry’s
broad-based strength, one-third of
manufacturers posted double-digit
year-over-year gains last month, while
most of the others reported high
single-digit advances

11. Housing Starts

12. Steel Volume
Source: https://www.worldsteel.org/

13. Freight Index

14. Class 8 Truck
• Ward Automotive

15. Trailers

16. AG Equipment

17. Oil Rigs

18. Power Generation

19. Clean Tech Index

20. Other Sources:
• http://www.slideshare.net/paulyoungcga/retail-sales-for-canada-for-the-
monthending-may-2016
• http://www.slideshare.net/paulyoungcga/housing-market-for-canada-june-2016
• http://www.slideshare.net/paulyoungcga/forestry-sector-softwood-lumber-canada-
and-united-states
• http://www.slideshare.net/paulyoungcga/retail-sales-for-june-2016-united-states
• http://www.slideshare.net/paulyoungcga/canada-manufacturing-trends-for-may-
2016
• http://www.slideshare.net/paulyoungcga/employment-and-job-creation-for-
canada-june-2016
• http://www.slideshare.net/paulyoungcga/energy-sector-oil-and-gas-canada-june-
2016
• http://www.slideshare.net/paulyoungcga/canada-merchandise-trade-for-may-2016