US Q3 economic growth revised down to 2%
The downward revision in the economy was led by a smaller increase in inventories than previously forecast while weak external demand and a strong dollar also weighed on the economy. Trading activities subtracted 0.3% from overall growth following a 0.2% contribution in the previous quarter. Inventories, meanwhile, subtracted 0.7% from growth compared with a previous estimate of 0.6%. Household spending, meanwhile, remained stable at an earlier estimate of a 3% gain on an annual basis.
In the first half of this year, the US economy grew around 2.3% after expanding by 2.4% in 2014.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Global oil and petchem revenues hit by challenging market environment
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia