UK chem producers lower output expectations for next 3 mos

23 March 2005 17:12  [Source: ICIS news]

LONDON (CNI)--UK chemical manufacturers have lowered dramatically their expectations for volume output over the next three months, according to statistics released by the Confederation of British Industry (CBI) on Wednesday.

 

Only 25% of respondents in the CBI's March survey believe output will rise, compared with 65% when asked the same question last month. And the number expecting output to fall has doubled to 24%. Fifty-one percent think output volumes will be unchanged against 23% in February.

 

While 42% of manufacturers now expect the average price at which domestic orders for chemical products are booked to increase over the next three months, 55% said prices will remain stable and 3% believe prices they will fall. This was relatively unchanged from respondents’ expectations a month ago.

 

In March, 84% said current stocks of finished goods were adequate compared with 68% in February. Only 10% described their stock levels as less than adequate, while 26% said the same last month.

 

Producers’ total orders were normal, according to 58% of participants, with 20% saying orders were above normal. In February, 53% said orders were normal and 31% told CBI they were above normal.

 

Export orders were normal, said 61% of respondents, while 20% regarded current exports to be below normal. The comparative figures from February were 58% and 14%.

By: Hilde Ovrebekk
+44 20 8652 3214

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