Report Details Falling Chemical Sector Outputs In European Union

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22nd August 2012 13:17 - Chemicals

Market research data for the chemical sector, released by Cefic (The European Chemical Industry Council), suggests that outputs in the EU have fallen by 2.1% in the first five months of 2012 compared to 2011. The report, released in August 2012, shows that EU chemical production in May has fallen by 0.7% when compared to the previous year, and is 4.7% below the industry peak in 2007. This fall was led by polymer production, which has fallen 4.5% in May 2012 when compared to the same month in 2011. The only two sub-sectors where production increased notably year on year are petrochemicals (up 3%) and basic inorganics (up 4.4%).

Year-on-year, EU chemicals prices increased in May by 2.7%, mainly due to the price of basic inorganics, which have increased by 4%. The cost of petrochemicals rose by 0.6%, while pharmaceuticals prices dropped slightly; down by 1.4 per cent in May as compared with 2011.

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