25 July 2013 23:12 [Source: ICIS news]
HOUSTON (ICIS)--The US continues to be a bright spot among the economies of the world because of its continued housing recovery and signs of improving prospects for consumer spending, the CEO of Dow Chemical said on Thursday.
The outlook for Europe continues to be gloomy, with no signs of improvement, said Andrew Liveris, Dow CEO. He made his comments during an earnings conference call.
Emerging markets should grow in the second half at rates not seen in the first half, he said. "Emerging markets are a surprising pillar of strength."
China is appearing to be stabilising, although growth will be below past rates, he said.
Dow had noticed that demand was growing in the western part of China, Liveris said. "This is all new consumer demand."
China is in the midst of recalibrating its economy to increase domestic consumer demand, he said. If China is successful, then that should increase demand for polyurethanes, as they go into such consumer items as furniture and bedding.
For Dow's global economic outlook, the company is maintaining its view that this year will be a replay of 2012, Liveris said.
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