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Chemical Week Magazine :: Departments :: Leading Indicators

Indicator Plunges

8:31 AM MST | November 18, 2008 | Arnold Pearlman

The leading indicator for the U.S. chemical industry dropped a steep 4% in October. All major components fell, due in part to the impact of hurricanes Gustav and Ike on U.S. Gulf Coast manufacturing facilities, and the weak economy, analysts say. Overall industrial production dropped 2.8% in September. The mining industry, which includes oil and gas production, fell 7.8%, primarily the consequence of the suspension of Gulf Coast operations after the hurricanes. Oil refining production fell 9.2% in September, while chemical production dropped 3%. New orders for a...

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