Forward-looking statements.(viewpoint)(chemical industry forecasts)

Chemical makers delivered first-quarter earnings that were in line with expectations, with a few exceptions, as robust growth in Asia and Europe offset U.S. housing and automotive weakness (p. 7). Results strengthened, however, as the first quarter progressed and executives presented upbeat outlooks in discussions with investors.

"We continue to expect global GDP growth to be healthy in 2007, above 3%, but with North America slower this year than last year, principally the consequence of weakness in residential construction and the auto industry, and some weakening consumer spending," Dow Chemical executive v.p. and CFO Geoffery E. Merszei said last week. "Europe …