Chemicals Output Declines in the EU; Industry Confidence Deteriorates

The production of chemicals decreased 2.1% in the European Union (EU) in the first five months of 2012 compared with the corresponding period of 2011, Cefic says. Chemicals output slipped 0.7% in the EU in the month of May compared with May 2011, Cefic adds. EU chemicals output in May 2012 was 4.7% below peak levels reached in 2007. Cefic cites a European Commission survey, dated July 30, 2012, that shows that confidence in the EU chemicals industry deteriorated in May, based mainly on a strong deterioration in chemical companies’ managers’ expectations for...

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