19 February 2010 23:15 [Source: ICIS news]
HOUSTON (ICIS news)--Economists for a second consecutive month increased their expectations for ?xml:namespace>
In the American Chemistry Council’s (ACC) Economic Forecasters Survey, economists now project the economy to grow by 3.1% in 2010 - a 0.3-percentage-point improvement from the 2.8% in GDP growth in January’s survey and up from a 2.4% decline in 2009.
The improvement was led by an improvement in expectations for business investment, which is now expected to rise 1.1% in 2010 - up from a 0.3% expected decline in January’s survey.
Likewise, expectations for 2011 business investment also rose, moving to 7.5% - up by 0.3 percentage points from the previous month.
Separate economic surveys from the
Both regions are critical to chemicals production. New York has the third-largest state chemical industry in the US with $37bn (€27bn) in shipments, while the Philadelphia region is home to a number of companies with a focus on fine and other specialty chemicals, finished pharmaceuticals, and some inorganic chemicals, the ACC said.
($1 = €0.73)
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