Trade group cuts Germany's 2012 chem output growth forecast to zero

01 March 2012 11:59  [Source: ICIS news]

LONDON (ICIS)--Germany's chemical producers’ trade group has revised its 2012 chemical production output forecast for the country to zero after reporting a decline in production in the 2011 fourth quarter, it said on Thursday.

Frankfurt-based Verband der Chemischen Industrie (VCI) had previously forecast 1.0% year-on-year growth in Germany’s chemical production for 2012.

The revision came after VCI reported that Germany's 2011 fourth-quarter chemical production had fallen 2.0% from the third quarter and was down 4.3% year on year from the 2010 fourth quarter.

However, the trade group said that the longer-term prospects of the country’s chemical industry remains promising.

Production growth should resume in 2013, rising by about 2.0-3.0% from 2012, it said. Through 2020, VCI expects Germany's annual chemical production growth to average 2.0-2.5%.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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