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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Cefic Downgrades 2009 EU Output Forecast

11:42 AM MDT | June 12, 2009 | NATASHA ALPEROWICZ WITH IAN YOUNG

Cefic has downgraded substantially its full-year 2009 output forecast for the European Union (EU) chemical industry. EU production of chemicals, excluding pharmaceuticals, will drop 11% this year, Cefic says. Cefic had forecast at the start of 2009 that full-year EU chemical output would slip by just 1.3% (CW, Jan. 5/12, p. 31). Growth is expected to resume in 2010. “Expectations for 2010 show growth of 5% compared to 2009,” Cefic says. The EU chemical industry has been very severely hurt by the economic crisis, Cefic says. The latest indicators...

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