June 14, 2024
11:00 AM ET / 10:00 AM CT / 8:00 AM PT / 3:00 PM GMT
Duration: 1 hour
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Summary
Register now and join us live as Martha Gilchrist Moore, chief economist at the American Chemistry Council, looks at the state of the chemical industry in 2024 and its outlook as the year progresses. She will also answer your questions after the presentation.
Preview of what’s in store:
Moore notes that as we move into the latter half of the year, the U.S. economy remains relatively robust. However, persistent inflationary pressures have delayed expectations for the Federal Reserve's interest rate cuts. While the labor market continues to adjust, real wage growth has provided some support for consumer spending. Notably, consumption patterns have been skewed toward services, posing challenges for goods-producing sectors, including chemicals and plastics.
Following an unprecedented cycle of inventory destocking that impacted chemical producers, there are indications of strengthening demand domestically and internationally. Inventory levels have stabilized, and the gradual recovery is expected to buoy various segments.
Furthermore, capacity expansions in manufacturing for clean technologies and an ongoing advantage in energy costs suggest a favorable outlook for the U.S. chemical industry in the coming years.
Speaker
Martha Gilchrist Moore | Chief Economist & Managing Director, Economics & Statistics | American Chemistry Council
Martha Gilchrist Moore is the Chief Economist and Managing Director for Economics and Statistics at the American Chemistry Council. Ms. Moore analyzes the impact of various policy initiatives and energy trends on the chemical industry. In addition, she produces forecasts for the economy and chemical industry. She also directs the Council's research on the direct and indirect economic contributions of the business of chemistry and the benefits to consumers. Ms. Moore has worked on chemical industry issues for more than 25 years and is an authority on the market dynamics for the chemical industry and its end-use customer industries. Ms. Moore holds a master's degree in economics from Indiana University and is a graduate of the University of North Carolina at Chapel Hill. She is a member of the National Association for Business Economics and the US Association for Energy Economics (USAEE) and serves on the board of the National Capital Area Chapter of USAEE.
Moderator
Traci Purdum | Editor-in-Chief | Chemical Processing