Economists Forecast Slowing Growth in 2012

Economists at ACC and IHS Global Insight (Lexington, MA) have released forecasts for next year, showing an emerging consensus that global growth will slow. “The global economy has reached a critical state,” says ACC chief economist Kevin Swift. “A global soft-patch has emerged and has been centered on manufacturing.” Problems in Europe are hampering global and U.S. growth, but ACC says it expects the U.S. to avoid another recession. ACC expects U.S. GDP to grow 2% in 2012, and is currently forecasting 1.7% growth for this year. U.S. chemicals output is...

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