Dr. Thomas Kevin Swift, Chief Economist and Managing Director - Economics and Statistics, American Chemistry Council (ACC), Arlington, Virginia, US
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During the past several months, economic conditions have deteriorated significantly. The recession, which officially began in December 2007, deepened during the last few months of 2008 and into the beginning of 2009. We are currently witness to a vicious cycle whereby anxious consumers stop spending, retailers are left with unsold inventories and slow their purchasing. Then businesses throughou
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