Pursue recession-proof businesses - economist

05 December 2008 11:28  [Source: ICIS news]

SCOTTSDALE, Arizona (ICIS news)--Chemical companies should pursue recession-proof businesses to stave off the economic downturn and a “slow and difficult recovery,” said an economist with the Institute for Trend Research late on Thursday.

"Green is a business opportunity," he said.

The utilities and alcohol sectors and green technology are areas that should be considered, said ITR economist Alan Beaulieu at the 37th annual meeting of the National Association of Chemical Distributors (NACD).

Weakness was seen across all chemical products as demand slows, he said.

The possibility of some businesses closing was high before the economic climate warmed up in 2010, he said, as an improvement in industrial production was only possible late next year.

Oil prices may recover next year, with pressure coming from countries such as Russia, Iran and Venezuela that views a $40-50/bbl range as too low, Beaulieu said.

The NACD annual meeting ends on Friday.

To discuss issues facing the chemical industry go to ICIS connect

By: Ivan Lerner
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly