At month-end July 2009, Bentek Energy, LLC reported that industrial demand of natural gas (for their sample) had increased by three percent over June 2009 and that June had increased four percent over May. Increases occurred in electronics, farm and primary metals applications. Smaller increases developed in chemicals, lumber, textiles and ethanol, according to their sample.
However, even with the recent month over month increases, by July 31 industrial demand for 2009 trailed that through July 2008 by eight percent. The Bentek Energy, LLC report is consistent with the Federal Reserve’s August 14 release of industrial production for July, which showed a 0.5 percent increase from June. Dare we view the recent monthly increases in production and large volume customer demand for natural gas as a sign of pending economic recovery?
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