03 November 2011 14:03 [Source: ICIS news]
Excluding the pharmaceuticals sector,
Third-quarter chemical industry sales were €44.5bn ($32.5bn), down 1.0% from the second quarter and up 6.5% year on year. Chemical producer prices rose 0.4% from the second quarter, and were up 5.3% year on year.
The industry’s domestic sales fell 1.5% from the second quarter but were up 5.5% year on year. Sales outside
VCI cited the uncertainty in financial markets, driven by the debt crises in the eurozone and the
The uncertainty prompted chemical industry customers to reduce new orders and to cut inventories. In addition, some customers were delaying orders in the hope of lower raw material prices, the group said.
As for 2012, VCI noted signs of a “significant cooling” in the global economy.
However, even if
Meanwhile, many firms in the industry are looking at different scenarios to be prepared in case of a decline, it added.
VCI did not provide a specific 2012 growth forecast for
($1 = €0.73)
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