Recession Fears Grow

GDP grew 0.4% in the first quarter, significantly less than the initial estimate of 1.9%. Initial second-quarter estimates peg GDP growth at an annualized 1.3%. Consumer spending was stagnant in the second quarter and government spending continued to drop, but there was a solid rebound in business investment. The Fed also revised statistics for the past few years and says the recession was worse than previously stated and the recovery less robust. Profits, however, were revised upward. According to new estimates, operating earnings were 12.6% of GDP in the first...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers