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Cefic Raises Forecast for 2011 EU Chemicals Output Growth

3:20 PM MDT | June 23, 2011 | Ian Young

Cefic has revised upward its forecast for 2011 growth in production of chemicals in the European Union (EU). Cefic raised its 2011 output growth forecast for chemicals to 4.5%, from a prediction of 2.5% made last November. Cefic says it expects chemicals production to grow 2.5% in the EU in 2012. A short downturn during the third quarter of 2010 was followed by sharp increases in output in the fourth quarter of 2010 and first quarter of 2011. "Strong growth since our last forecast was driven especially by a combination of robust manufacturing and continued...

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