Japan: Quake Recovery Continues

Spending on earthquake recovery efforts following the March 11 East Japan Great Earthquake should boost Japan’s economy and chemical demand this year. Japan’s GDP is expected to grow 2%/year in 2012 and 2013, according to IHS Global Insight. Japan’s chemical production is expected to grow 3.4% in 2012 and 3.5% in 2013, according to ACC estimates. Growth will likely be weighted toward the second half of 2012 as the short-term outlook for Japanese chemical makers remains weak. Several Japanese chemical makers recently cut their earnings forecast...

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