Read by major corporates, investment banks, fund managers and policymakers.
Why subscribe to The pH Report?
Subscribers to The pH Report benefit from access to insights from a strategic consultancy team that advises Fortune 500 and FTSE 100 companies, investment banks and fund managers.
The Team
Led by Paul Hodges, the pH Report team have 150+ years of relevant experience between them.
Meet the team
The report leans on the chemical industry’s proven record as the leading indicator for the global economy. It is an ideal tool for companies and investors, due to the industry’s history of leading major trend changes in the wider economy by 6 – 9 months.
See pH Report forecasts
The monthly Report provides in-depth analysis of key drivers for the global economy:
- Geopolitics & Defence
- Global Economic Outlook
- Financial Markets
- China
- Energy Markets
- Chemicals & Sustainability
- Auto Markets (quarterly)
Subscribers
To access The pH Report
you need a subscription
$10,995 per year
The pH Report forecasts
2025
We added Defence to our core topics as the “peace dividend” from the fall of the Berlin Wall continued to disappear.
In January we suggested that “2025 will be a year of ‘Known Unknowns’ – we know the problems, but not how they will play out”.
2024
Based on chemical industry performance, we suggested that the world was unfortunately again unlikely to see the widely expected economic recovery.
Our January report suggested that “Global supply chains are therefore set to come under increasing pressure as the disruptions continue”.
2023
We correctly warned that China’s economy was unlikely to see a major recovery after the end of Covid.
Our January Report suggested that “China risks ‘becoming old before it becomes rich’ if it continues with ‘business as usual’ policies”.
2022
We suggested that geopolitics was starting to replace economics as the key driver for decisions.
Our April Report highlighted how we were moving back to “The typical boom/bust cycles that were common before the BabyBoomer SuperCycle”.
2021
We were one of the first to highlight inflation risk.
In April, we warned “We expect significant inflation in the short-term”.
2020
We forecast in early February that the Covid-19 virus would be the catalyst for recession.
Our February Report was headlined “Coronavirus concerns confirm economic expansion is ending”.
2019
The end of business as usual – we foresaw a ‘synchronised global slowdown’.
In 2018-19 we suggested optimism over economic recovery was misplaced.
2017
We forecast a long-term slowdown in China due to its ageing population and falling fertility rates.
The pH Report forecasts slowing growth in China.
2015
“Last year Paul Hodges sent me a report saying the oil price was about to plummet. He saw it falling to $50/bbl in the first half of this year.”
Merryn Somerset Webb
Moneyweek, January 2015
In 2014-15, The pH Report accurately forecast the dramatic drop in oil prices from $115/bbl to $30/bbl.
2014
“The chemical industry is the best leading indicator for the global economy.”
The pH Report discusses the New Normal.
2006
“Beware lending institutions bearing gifts.”
Between 2006 and 2008, the team was correctly warning that the subprime bubble would burst and cause a global financial meltdown.
The pH Report team
Paul Hodges
phodges@new-normal.com
Paul is a trusted adviser to major companies and the investment community, and has a proven track record of accurately identifying key trends in global marketplaces. He is chairman of New Normal Consulting and a Global Expert with the World Economic Forum. His analysis of the key role of demographics in driving the global economy has attracted increasing interest from senior policymakers and executives.
Paul also serves as Advisory Board chairman for Infinity Recycling and non-executive Chairman of NiTech Solutions, and is a senior adviser to I.C.I.S Pricing. Prior to moving into consulting in 1995, Paul spent 17 years with Imperial Chemical Industries (ICI) in the UK and USA. He held senior executive positions in petrochemicals and chloralkali, and was Executive Director of a $1 billion ICI business.
David Hughes
dhughes@new-normal.com
David is an expert on the Middle East, having lived and worked in Riyadh, Saudi Arabia for 5 years after leading SABIC’s global business redesign programme in 2009. He has held a range of senior executive positions with SABIC, Huntsman and ICI, where he led a range of global $1bn+ businesses based in the Middle East, Europe and the USA. He also served on a number of industry bodies, including as Vice-Chairman of the Board of Petrochemicals Europe, the Asian Clean Fuels Association and the Methanol Institute.
Paul Satchell
psatchell@new-normal.com
Paul is an expert in financial markets. Previously he was a Managing Director-level equity analyst, working with some of the world’s leading investment banks, and directly with chemical companies. For 21 years to 2017, he covered the global chemical industry for banks including ING, Merrill Lynch and Investec, making market recommendations and undertaking advisory work in M&A and lending. He was particularly well known for his development of the Chemicals Volume Proxy, a unique real-time monitor of chemicals demand. Prior to this, he spent 16 years in the industry itself, mainly with BP/BP Chemicals. He recently completed a four-year term as Honorary Treasurer of the Royal Society of Chemistry and previously chaired its Investment Committee.
Daniël de Blocq van Scheltinga
daniel.dbvs@new-normal.com
Daniël was the first foreigner to be granted permission to run the finance company of a top-tier Chinese State Owned Enterprise, when establishing and managing ChemChina Finance Company. Previously, Daniël held a variety of senior positions in corporate and investment banking, including as Asia Pacific Head of Chemicals and Asia Head Asset Based Finance for ABN AMRO.
He moved to Hong Kong in 2001, and continues to spend much of his time in China, advising international and Chinese firms, as well as leaders in the public and private sectors. Daniël is a graduate of Leiden University, the Netherlands, with a Master of Law degree with a specialty of International law.