Chemicals Output Declines in the EU; Industry Confidence Deteriorates

Production of chemicals decreased 2.1% in the European Union (EU) in the first five months of 2012 compared with the corresponding period of 2011, Cefic says. Chemicals output slipped 0.7% year-on-year (YOY) in the EU in the month of May, Cefic adds. EU chemicals output in May 2012 was 4.7% below peak levels reached in 2007. Cefic cites the latest European Commission survey, dated July 30, 2012, which shows that confidence in the EU chemicals industry deteriorated in May, based mainly on a strong deterioration in chemical company managers' expectations for...

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