19 April 2010 13:17 [Source: ICIS news]
LONDON (ICIS news)--Confidence data for the EU chemical industry reached a positive value in March for the first time in 21 months, economists from the European Chemical Industry Council (Cefic) said on Monday.
The organisation said in its March Chemical Trends Report that EU chemicals confidence has continued to improve gradually showing relative optimism surrounding the business climate and was now above its long term average.
“According to the CBS (Consumer and Business Survey) of the EU Commission, managers working for chemicals companies (including pharmaceuticals) have registered a decrease in the level of stocks (-8.1 points) and reported more positive changes in (on) the level of order books (+4.5 points),” Cefic said.
Cefic added that prospects for production over the coming months also registered a significant improvement.
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