Favorable oil-to-gas price ratios driven by the production of natural gas from shale continue to drive a renewed US competitiveness that is boosting exports, and driving greater domestic investment, economic growth and job creation within the business of chemistry, according to the Year End 2013 Chemical Industry Situation and Outlook, published by the American Chemistry Council (ACC).
Likewise, supported by activity within the domestic chemicals sector, the US economy is likely to see continued, though moderated, growth in 2014, according to ACC’s monthly Chemical Activity Barometer (CAB).
During the next five years, production is expected to grow by almost 25%, pushing industry shipments to $1 trillion by 2018, according to the report. Also, for the first time since 1999, the US chemical industry is seeing job growth.
Chemical Outlook Is Bright, According to ACC
Published February 7, 2014
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