In a mid-year report on economic conditions, the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) said that “uncertainty has emerged as an economic headwind to businesses and consumers,” and “near-term weakness in manufacturing activity is expected amid supply chain disruptions, both in the U.S. and abroad.” However, ACC also noted “Comparatively lower energy and feedstock costs remain a distinct advantage for U.S. chemical manufacturers.”
Martha Moore, ACC Chief Economist, wrote “America’s chemical manufacturers kicked off the year with solid momentum. Yet, amid a landscape of extraordinary global uncertainty, we anticipate headwinds in the coming quarters as supply chains undergo a realignment. Still, with its unmatched energy advantage and deep-rooted culture of innovation, the U.S. chemical industry is pivotal for driving the President’s ‘America First’ vision for revitalizing domestic manufacturing.”
Learn more from the report here.