American Chemistry Council: Risks to recovery remain high
The American Chemistry Council (ACC) has published their 2011 Year-End Situation Report and 2012 Outlook. The ACC Economics & Statistics Department reports that in the United States the recovery from the worst recession since the Great Depression has stalled. In Europe, according to the ACC, a recession is emerging and growth is slowing in East Asia. The U.S. has not been immune from these forces and the recovery has slowed as a result. Industrial sector output continues to expand and consumers are tentatively reengaging but there is much lost ground to recover. The ACC states that the risks to recovery remain high. Globally, it is in the emerging markets that growth has been strongest. This will continue. Along with favorable energy dynamics this strong growth overseas will aid U.S. chemical exports in the years to come. Getting past near-term softness, the outlook for chemicals points to modest growth over the next several years and depends on strengthening U.S. domestic demand and an improvement in exports abroad. A strong recovery in profits and the shale gas revolution will lead to further investment in innovation and plant and equipment.
Read the complete report here.
