ACC Sees Slow Growth in Mid-Year Outlook

ACC's 2012 mid-year outlook forecasts slower growth for U.S. chemical makers due to the recession in Europe weakening demand for US exports. However, consumer spending will see modest gains due to lower energy prices, helping to offset the high unemployment and low wage growth that are currently constraining incomes. U.S. GDP is expected to grow, expanding by 2.2% in 2012 and 2.4% in 2013. However there are multiple trade, tax, and other policy risks as the economy continues a slow recovery, ACC says.

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