Volume 90 Issue 26 | p. 8 | News of The Week
Issue Date: June 25, 2012

Chemical Outlook Dims For Europe

Economy: Trade group lowers forecast for growth in the EU to zero
Department: Business | Collection: Economy
Keywords: economy, chemical output, EU debt crisis, industrial production

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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