2013 outlook

Global chemical markets are forecast to improve as 2013 progresses (p. 19). Recessions in Europe and Japan, as well as slower growth in China, continue to weigh on demand. Chemical industry output excluding pharmaceuticals is expected to grow 3.4% in 2013 after a 1.1% increase in 2012, ACC says. Industry sentiment is sour after a weaker-than-expected 2012, but recent indicators offer hope that demand could reaccelerate as the year progresses. China demand and exports improved in late 2012 and the US economy has been stronger than expected. Real GDP is projected...

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