Confidence in EU chems drops in July - Cefic

17 August 2007 12:17  [Source: ICIS news]

LONDON (ICIS news)--EU chemical confidence plunged in July due to weakening production and expectations based on a lower assessment of total book orders, the European Chemical Industry Council (Cefic) said on Friday.

 

The European Commission’s confidence indicator for the chemicals sector slowed after a substantial improvement in the second quarter, lagging behind industry as a whole.

 

There was also a decline in the global perception of the EU economy in July, caused by weakening confidence in industry, services and construction sectors, added Cefic in its July chemical trends report.

 

In June, chemicals and man-made fibres production in the EU dropped by nearly 1% year-on-year, while producer prices rose 2.4%.

 

Petrochemicals showed the highest price increase – 4.4%, while basic organic prices grew by 3.5% and polymers by 3.3%.

 

Consumer chemicals and specialty chemicals prices increased by 2% and pharmaceuticals dropped 0.5%.

By: Mark Watts
+44 20 8652 3214

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