Business Services Industry
Recession worries rise amid Iraq crisis.
Crain's Cleveland Business, August, 1990 by Prizinsky, David
Recession worries rise amid Iraq crisis Recession fears last week accompanied concerns among users of plastics, chemicals and other petroleum-based raw materials that the Middle East crisis would raise their costs and force them to try to hike prices in a lackluster marketplace. Officials at several Cleveland-area companies said they were monitoring the standoff between Iraq and the United States as closely as possible in order to plan for any disruptions of their businesses.
The level of worry over the effects of Iraq's invasion of Kuwait and its possible designs on Saudi Arabia varied. In the short term, few companies have reported seeing price increases for raw materials such as plastics and chemicals that use oil as a feedstock. "Resin prices won't...
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