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EU output decline in 2012 less severe than expected

4:15 PM MST | March 4, 2013

Chemicals production contracted by 1.5% in the European Union in 2012 compared with 2011, Cefic says. The full-year figure is slightly better than Cefic’s previous projection of a 2% decline in 2012 EU chemicals output, published last December. The better-than-expected performance reflects “above-zero output growth in the fourth quarter,” Cefic says. EU chemicals production levels remain, however, 6.2% below the 2007 peak. Monthly data for December 2012 show a 1.2% increase in EU chemicals output compared with December 2011. Chemical prices were...

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