27 May 2010 19:02 [Source: ICIS news]
TORONTO (ICIS news)--?xml:namespace>
The increase would be driven by industrial activity, as well as by building and construction, DIW said.
Industrial orders kept increasing, which was a strong indication of continued growth in
However, the revival in building and construction was largely the result of better weather after a tough winter and would be of a more “temporary nature,” it said.
However, it was too early to determine precisely what extent the decline in the euro would affect the real economy, the institute said.
For the full-year, VCI has forecast
The trade group last week revised the 2010 forecast from its earlier projection of 5% growth after an unexpectedly strong first quarter, when chemical production rose 1.9% sequentially from the 2009 fourth quarter and 14.9% from the 2009 first quarter.
Economists have forecast
According to the latest revised data from
This compared with sequential growth of 0.2% in the 2009 fourth quarter, 0.7% in the third quarter and 0.4% in the second quarter – and a 3.5% sequential decline in the 2009 first quarter.
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