27 July 2011 21:01 [Source: ICIS news]
HOUSTON (ICIS)--Economic growth in developed markets, like North America and western Europe, will gain traction at a jagged pace because of persistently high unemployment in the US and sovereign debt concerns in Europe, US Dow Chemical CEO Andrew Liveris said on Wednesday.
In addition, emerging regions like Latin America, eastern Europe and Asia pacific should continue their robust growth, said Liveris during Dow’s second-quarter earnings conference call on Wednesday.
“There are some potential headwinds in the near term, like inflationary pressures in China, for example,” he said. “But our strong presence and diversification in this and other higher growth economies continues to serve us well.”
Liveris said unemployment woes in the US and Europe’s debt problems will “likely continue for some time”.
“Taking all these factors into account, the fact remains that we benefit from our broad geographic reach and leadership positions in many attractive high-growth end markets,” he said. “These positions are strengthening and growing both in the near term and long term.”
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections