French Industry Association Downgrades 2012 Forecast

French chemical industry association UIC (Paris) has revised its forecast for the sector’s 2012 growth in output volumes to 1.8%, from 2.4%. However, UIC projects chemicals output growth of 4.5% in 2011, higher than an earlier forecast of 3.1% made by UIC last May. Chemical production in France if forecast in 2012 to exceed output levels in 2007, the year before the global financial crisis and recession began, despite the anticipated slowdown, UIC says. The French chemical industry performed strongly in the first quarter of 2011 when industry output was 7.1%...

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