Free Falling

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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