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Cefic: EU chemical industry out of recession, but recovery is fragile

9:17 AM MST | December 9, 2013 | Michael Ravenscroft

Chemical production in the European Union rose by 0.7% in September 2013 compared with the year-ago period, confirming growth for the second consecutive quarter, Cefic says. Two successive quarters of growth mean that the EU chemical industry is technically out of recession, although Cefic says that the recovery since the second quarter this year is fragile. Sales in the eight-month period through August 2013 were up by 0.3% compared with the full-year peak reached in 2008, before the onset of the financial crisis. European Union output of petrochemicals dropped...

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