Issue Date: June 28, 2010
ACC Lowers Outlook For Chemical Growth
Economists at the American Chemistry Council have moderated their outlook for growth in U.S. chemical output this year. In March, ACC had forecast 7.8% overall growth in 2010, but in a new report the trade association says it expects output to rise 6.0%. Exports to Europe will be under pressure in the wake of a stronger dollar and a weak European economy, it says. Still, the growth is a welcome reversal from 2009, when according to ACC, U.S. chemical output fell 4.5%. Growth will moderate to 4.0% in 2011 and 3.6% in 2012, the economists predict.
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