06 January 2012 20:08 [Source: ICIS news]
HOUSTON (ICIS)--The US economy has started 2012 on a good note, according to a report released on Friday by the American Chemistry Council (ACC).
Consumer confidence, unemployment and light vehicle sales all improved in December, said the ACC’s weekly economic report.
“The tide is beginning to turn for the better,” the report said.
“The jobs report was better than expected and shows continued improvement. Strong light vehicle sales were positive and the prospects going into 2012 are quite good.”
Manufacturing activity also continued to strengthen, expanding for the 29th consecutive month, the report said.
“Beyond the US, global manufacturing edged back into expansion [ever so slightly] for the first time in four months,” the report said. “The gain, however, was largely because of activity in the [US].”
The report said “production declined in the eurozone, China and Japan”, adding that the “ongoing weakness will remain a drag on activity with inventory adjustments still ongoing”.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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