EU chemical output falls in 2012 on low confidence
European Union (EU) chemicals production recorded a 1.9% decrease in the first four months of 2012 compared with the same period in 2011, according to a chemical trends report from trade group Cefic released on Friday.
Data for April 2012 showed a 1.9% decline compared with April the year prior. April 2012 data show that the EU chemicals production level remains 5.2% below the peak in 2007, the group said.
Prices for chemicals in the European Union continued to climb on a year-on-year basis in April, up 3.2% during the month against the comparable month in 2011.
The price increase was led yet again by the overall price increase in basic inorganics.
Latest trade data show the EU chemicals trade net trade surplus improved through the first quarter of 2012 by €2.4 billion compared with the same period of last year, reaching €12.5 billion.
According to the latest EU survey from May 30, confidence in the EU chemicals industry deteriorated in May, based mainly on a strong deterioration in managers' expectations for the months ahead.
To access the full Cefic report, click here.
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