Global Forecast

Searching for the New Normal Chemical makers may be glad to bid good riddance to a tumultuous fourth-quarter, but they are not likely to be any happier in early 2009 as output continues to fall in Europe and North America. China and Latin America will continue to expand, allowing for modest overall growth in chemicals this year, albeit at much more modest rates than was the case earlier in the decade. “The spreading global recession is expected to last well into 2009, with a modest recovery in 2010,” says Duncan Meldrum, chief economist at Air...

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