The IeC Boom/Gloom Index (blue column) moved up sharply last month, as Western stock markets rallied further on news that the major economies were now officially exiting recession. Various definitions exist of recession, with most countries referencing 2 consecutive quarters of negative GDP. The USA measures recessions differently, but the head of the official Business […]
Chemicals and the Economy
Asian PE margins under pressure as oil prices rise
China’s demand has been the main driver for the global chemical industry over the past year. And prices on China’s Dalian polymers futures exchange have been a key indicator of the boom. But now, the rally seems to be running out of steam. The key signs are in the above chart: • At the end […]
Toyota’s discounts drive US auto sales rise
The blog is always grateful for good news, no matter the reason. Thus it welcomes March’s rise in US auto sales to 850k from February’s 615k (black line). The driver for the rise was Toyota’s (red line) record level of price discounts, as it aimed to overcome its disastrous sales slump after the quality problems. […]
Eurozone unemployment hits 10%
The rate of unemployment is an important leading indicator for chemical industry demand. It measures the number of people who currently don’t have much spare cash to spend on discretionary purchases. And when the jobless rate is rising, it also impacts the spending patterns of those still in work, as they often choose to save […]
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