VCI Raises Full-Year Sales Growth Forecast

German chemical industry association VCI (Frankfurt) has raised its forecast for full-year 2011 sales growth by Germany’s chemical industry to 10%, up from its forecast for a 9% increase made last May. The revision reflects higher prices charged by the German chemical industry to its customers to offset higher raw material costs, VCI says. VCI hiked its 2011 chemical price-increase forecast to 5% from 4%, but maintained its full-year growth forecast for output volumes at 5%. The industry will achieve “record figures” this year, VCI says. Chemicals output...

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