Paul Hodges, chairman of the pH Report, breaks down a unique set of economic data through the lens of the world's third largest industry behind energy and agriculture — chemicals. Looking at the chemical capacity utilization, supply and demand dynamics, and activity in China, a pattern emerges. With an abnormal first quarter of 2019 and the benefit of near real-time information, Hodges holds that the data suggests the global economy could be set for a downturn. Filmed April 1, 2019 in London.