ACC: chemical cycle starts to bottom out.(Brief Article)

The global chemical industry downcycle is starting to bottom out, says Kevin Swift, senior director/economics and statistics, in ACC's latest business outlook. Global monthly chemical production grew 0.4% in July, after a 0.1% gain in June. Production had contracted by 0.3% in May and 0.4% in April, ACC says. July production was up 1.4% compared to the year-ago period, Swift says. Strengthening economies in North America and East Asia will be the growth engines for the industry in 2004, Swift says. Recovery in Western Europe will likely lag the two regions, he says. North American production increased 0.4% in June and 0.1% in July after three consecutive months of declines. The …