Although the first estimate of the IP index for organic chemicals is also typically based on preliminary weekly data, more-detailed alternative data from PetroChem Wire--a daily news source for organic chemicals and plastic resins--became available in late August and were used to supplement the weekly readings. During the storm and its continued aftermath, PetroChem Wire provided daily reports on the plant-level status of operations. These reports include information on each plant's capacity as well as whether the plant was shut down, in the process of restarting, or fully operational. The plant-level information was aggregated to the industry level and used to inform industrial activity for August. In contrast to the IP index for organic chemicals, the primary source data for plastics materials and resins are not available for the first estimate of IP, so the plant-level PetroChem Wire reports were used to help assess industry output for August. PetroChem Wire continues to produce these reports, which will help guide the IP estimates for September.
Tech Thoughts Daily Net News – November 16, 2012
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