Debt Crisis Weighs Heavily on Chemicals Output in Europe

German chemical industry association VCI (Frankfurt) and Cefic each released data today confirming that Europe's debt crisis is weighing heavily on the region's chemicals business. VCI cut its full-year 2012 forecast for output by Germany's chemical sector, and now predicts that chemical production will decline by 3% compared with 2011 in Germany. VCI had previously forecast zero growth in German chemical production this year. The revision follows a 2.8% decrease in chemicals output in Germany during the second quarter of 2012 compared with the previous quarter...

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