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ACC Mid-Year Outlook: Growth Slows

3:37 PM MDT | June 30, 2011 | Vincent Valk

U.S. GDP growth has slowed in the face of soft consumer spending and high energy prices, ACC's mid-year economic outlook says. The group forecasts growth for 2011 to total 2.5%, before rising to 2.9% in 2012. While the group expects growth to bounce back from the "soft patch" during the second half of this year, it assigns a 25% chance to the possibility of a new recession.   In spite of slow, uncertain growth, ACC is somewhat more optimistic about prospects for the U.S. chemical industry. U.S. chemicals output is expected to rise 4.1% this year...

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