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Cefic Confirms Downgrade of its Output Forecast

6:58 AM MDT | July 2, 2008 | Alex Scott

Cefic has confirmed an exclusive report in CW and downgraded its 2008 forecast of output growth in the European Union chemicals industry. Output of chemicals, excluding pharmaceuticals, will grow 1.4% in 2008 compared with 2.1% in 2007, Cefic says. It predicts a 1.5% increase in EU chemicals output in 2009. Cefic predicts 2008 growth in EU output of chemicals, including pharmaceuticals, of 2.0%. Cefic had previously estimated that output including pharmaceuticals would grow 2.5%. The revised estimate is the result of data gathered during the past two months by...

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