Smart reactions in the crisis

How to adjust for a longer downturn

It can be stated without hesitation that the world is currently experiencing the most severe manufacturing recession since World War II. Overall in OECD countries, manufacturing went down well over 10% compared to last year while growth even in emerging countries is sputtering. Of course, the chemical industry, providing raw materials and components for most downstream activities, has been hit faster and harder. Year-to-date in 2009, global volumes have dropped 30 - 35% in parallel with substantial price reductions.

Released: September 2009

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