Cefic downgrades 2012, 2013 EU chemicals output forecasts

Bock: Downturn weighs on chemical industry. Cefic has downgraded its 2012 projection for output of chemicals in the European Union and says that production will decline by even more than previously expected. Cefic projects a 2% contraction in EU chemicals output this year, having forecast a 1.5% contraction last September. The downgraded forecast reflects recent data that show a stagnant European economy and a further decline in chemicals output since the first quarter of 2012, Cefic says. EU chemicals production in full year 2012 is expected to be 8% below its...

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