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Chemical Week Magazine :: Viewpoint

Free Falling

10:23 PM MST | November 23, 2008 | Robert Westervelt Robw@Chemweek.Com

The rate at which industry demand continues to disintegrate in late 2008 is startling. Alarms have been sounding since the financial crisis swelled in September, pushing anxious consumers and industrial buyers to the sidelines worldwide. Inventory depletion appears to be accelerating as producers and consumers scramble to preserve whatever cash they can, which makes it even harder to assess underlying demand. Producers report demand declines in October of 20% or more for some products, with some of the sharpest declines reported in Asia. Chemical makers are...

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Comments (1) for Free Falling

This kind of downturn is not new and is more inventory correction than economic downturn. Final chemical demand is down with economy, which is only down about 2 percent so far. See data for 1974-5 and 1980-81 in particular. Volumes will pick up even if the economy does not.

Frederick M. Peterson
Probe Economics, Inc.
Posted by Frederick M. Peterso on Saturday, November 29, 2008 @ 05:30 AM

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