Western countries are beginning to curb inflation, and ICIS suggests that the chemical industry must be prepared for "pain"

At present, inflation has spread to the vast majority of economies

The economic trend is not clear

At present, the problem of global inflation is very prominent, especially in Western countries

At the previous annual meeting of global central bank governors in Jackson Hole, Wyoming, USA, Fed Chairman Jerome Powell said: "While rising interest rates, slowing economic growth and a weak labor market will weigh on inflation, they will also cause some pain

ICIS believes that this strong commitment to curb inflation at all costs means that economic growth will slow

Manufacturing indicators have weakened

The ICIS report notes that currently, some data on economic indicators already show that the chemical industry is weakening

ICIS said the Global Purchasing Managers' Index, along with other leading indicators, shows that manufacturing is about to decline

ICIS said its own Business Barometer Index (LBB), which recently fell for six consecutive months, sounded a bigger alarm

Since the beginning of the year, Swift and other economists have sharply lowered their GDP growth forecasts

Chemical companies' earnings may be sharply reduced

For the large chemical industry, Wall Street and European analysts remain largely optimistic about

At present, some Wall Street analysts have also issued warnings

Yevremov said: "The price trend of polyethylene, polypropylene, polyvinyl chloride and other products is weakening

Yevremov lowered its 2022 earnings per share forecast for Dow Chemical by $0.