Issue Date: January 9, 2012 | Web Date: January 12, 2012
European Debt Affects Chemical Industry
The region’s chemical industry will suffer as a result. The European Chemical Industry Council (CEFIC) projects 1.5% growth in chemical output in 2012, down from an already paltry 2.0% for 2011. CEFIC bases its outlook on an underlying increase of 1.0% in European GDP. The association blames the continuing debt crisis in Europe and the high level of debt in the U.S. for undermining the economy at large.
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