Neville Prior 22 October 2009 09:38:13 AMI work in the chemical industry, so I would think it was an important indicator, but like it or not, it is the world's largest business! From petrol to pharmaceuticals, from paint to paper and from cosmetics to food, it all has chemicals. Water is a chemical, the air we breathe is a chemical mixture! Consequently, when the world hits the buffers, so does the chemical industry.
So what is happening right now? I guess good news, as we see press releases from the "big boys" after their Q3 performance is analysed. BASF, the largest of them all, has seen a growth in sales from Q2. Dow has put in a better than expected performance, DuPont has seen a profit increase, and Bayer is stopping short-time working.
I guess we can all say "a reason to be cheerful".....................................
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