European Debt Affects Chemical Industry | Chemical & Engineering News
 
 
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Volume 90 Issue 2 | p. 13
Issue Date: January 9, 2012 | Web Date: January 12, 2012

Cover Stories: World Chemical Outlook 2012

European Debt Affects Chemical Industry

Chemical output in 2012 is predicted to be even lower than the less than stellar 2011 output
Department: Business
Keywords: Europe, output, recession, exports, economy, debt crisis, China

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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