03 November 2009 17:07 [Source: ICIS news]
LONDON (ICIS news)--The German chemical industry's recovery is continuing to improve amid increasing demand for more base and specialty products from Asia and ?xml:namespace>
Chemical production rose 4% in the third quarter compared to the previous one, with revenue also rising 5.5%. Production previously rose 2.5 % in the second quarter from the first.
"It is encouraging that more and more industrialised nations are freeing themselves from the grip of the economic crisis,” said Ulrich Lehner, VCI Chairman.
"Industrial production in
However VCI said full year chemical production would drop about 10% from 2008, the biggest year-on-year decline since 1975, and it added that full year industry sales would fall 12% from 2008.
It also said
VCI said that despite industrial production in
Employment in the German chemical industry, the country’s fourth-largest sector, fell 2% year on year to about 432,900 in the third quarter of 2009.
Meanwhile, in its autumn projection for 2009 the European Commission raised
However the Commission said
German GDP was expected to contract 5.0% in 2009, grow 1.2% for 2010, and show a further growth of 1.7% for 2011, the Commission said.
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