Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Chemical Forecast Trimmed

by Michael McCoy
July 16, 2012 | A version of this story appeared in Volume 90, Issue 29

The U.S. chemical industry’s main trade association is lowering its forecast for the sector this year. In its midyear economic outlook report, the American Chemistry Council anticipates that U.S. chemical output will rise by only 0.5% in 2012. Late last year the association predicted 1.2% growth for the year. ACC attributes the downgrade to the financial crisis in Europe, economic slowing in China and other emerging markets, and weakness in U.S. manufacturing. ACC has a brighter view of the years ahead. Owing in part to the favorable impact of shale gas on the domestic petrochemical industry, it expects U.S. chemical output growth to rebound to 2.3% in 2013, 2.8% in 2014, and 3.2% in 2015. Citing petrochemical investment, the association anticipates that capital spending by the U.S. industry will rise steadily from $35.5 billion in 2012 to $51.5 billion by 2017.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.