1028 ET - U.S. growth came in surprisingly strong in 2024 versus start-of-year projections, and most economists expect the momentum to carry into 2025. But while the consumer economy and the services sector are thriving, industrial companies are complaining of a grimmer backdrop. "Recent economic activity is primarily being led by the strength in service-related sectors," while the physical economy has been weaker, Dow CFO Jeff Tate tells analysts on a recent earnings call. Dow executives several times on the call referred to a "prolonged economic downturn." Eastman Chemical CEO Mark Costa gave a similar take on the company's recent analyst call. "The macro economy is certainly challenging right now as we all know," he said. (matt.grossman@wsj.com; @mattgrossman)
(END) Dow Jones Newswires
February 05, 2025 10:28 ET (15:28 GMT)
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