Issue Date: June 25, 2012
Chemical Outlook Dims For Europe
The main trade group for Europe’s chemical manufacturers now says European chemical output will not grow at all in 2012 because of the impact of the European Union’s debt crisis. The European Chemical Industry Council, or CEFIC, had earlier forecast a growth rate of 1.5%. In 2011, the region’s chemical output grew by only 1.3%.
“Domestic demand for chemicals will decline slightly as compared with 2011 as austerity measures in EU member states . . .
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