Many readers have been out of the office during August on a well-deserved break. I am therefore highlighting below the main postings over the past month, in the hope this will help them to catch up quickly on key developments – please click on the highlighted title if you want to read the original posting: […]
Chemicals and the Economy
The blog’s first birthday
Its now a year since the blog started. Since then, 213 postings have appeared. It is now read in 72 countries and 620 cities (shown above). Most encouragingly, readership continues to steadily increase. Since January, it has risen a further 301%. The blog’s aim is to identify ‘the influences that may shape the chemical industry […]
US auto sales collapse in June
‘Collapse’ is not a word that should be used lightly in business. But there is no other way to describe June’s US auto sales figures:
Father Christmas didn’t visit last month
Yesterday’s action in financial markets reminded me of the Bird/Fortune video (noted here in December), where they took a satirical look at the causes of the sub-prime debacle. Specifically, the question in the interview where Fortune describes Bird as a ‘sophisticated investment banker, with his fingers right on the pulse’. The moment that recalled this […]
US house prices carry on falling
Every month, it seems, the US housing market gets worse. Spring should have provided some respite, as it is the peak time for sales. But instead, as the chart shows, the benchmark S&P/Case-Shiller house price index fell again to a new record low, and is now 14% below this time last year. ‘There are very […]
A tale of two outlooks – part 2
In an early blog last July, I marvelled at the contrast between the then upbeat nature of financial markets, and the gloom apparent elsewhere. I suggested that these two views of life couldn’t ‘continue to exist alongside each other for ever’, and suggested that whatever scenario came out on top would ‘have major implications for […]
US auto sales fall again in Q1
Car sales are of major importance to the chemical industry. The ACC calculates each new car uses $2441 worth of chemistry. The declines reported below for March and Q1 do not, therefore, make pretty reading. March Q1 GM -13% -11% Toyota -3% -4% Ford -14% -9% Chrysler -19% -16% Even more discouraging is that none […]
5 risks to 2008 budgets
The consensus viewpoint is an easy way of keeping up to speed on a variety of issues outside one’s daily experience. But the signs are that the consensus may be leading to complacency, when it comes to the assumptions being used to finalise 2008 budgets. There are a number of areas where some new thinking […]
Two swallows
This week has seen more downbeat news on US auto and housing sales. Ford said their total August vehicle sales were down 14% versus August 2006, and that their car sales were down by an amazing 34%. Toyota, who have been growing market share, said they were down 2.8% in total, and that their car […]
US auto sales catch subprime fallout
Two of the largest US auto manufacturers, GM and Ford, have now followed Wal-Mart and Tesco’s lead in detecting a change in consumer sentiment. GM, after announcing particularly strong Q2 Asian and emerging market sales, added that US sales declined 7% as a result of ‘increasing fuel prices and concerns about housing’. Ford said that […]
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