Wednesday, January 23, 2008
Economic Indicator of the Day
Another obscure-sounding indicator is the Baltic Dry index. This is neither a specialist beer nor a measure of Russo-Finnish trade but a composite of global shipping costs for bulk commodities such as grains and coal. As such, it is a rough and ready measure of the state of global trade.
So it seems rather worrying that the index has fallen by a third since its peak in November.
—Market.view column in The Economist, "Baltic Woes"
The Economist quite freely admits that it hasn't a clue what it all means. Nevertheless...