The global economy clearly has emerged from the deepest recession since the Great Depression and a recovery has evolved into expansion in much of world, especially in developing countries.
For the United States, however, a boost from inventory restocking has played out and underlying demand remains weak. The housing sector, which precipitated the downturn, continues to struggle as foreclosures mount and high unemployment persists.
The slow U.S. economic growth to date hasn’t generated jobs for most of the 8 million put out of work since the beginning of the recession in December 2007.
via Chemical Industry Bounces Back | Chemical Processing.
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