07 September 2012 17:52 [Source: ICIS news]
The country’s economics ministry said that July’s improvement in overall productive output was primarily due to increases in the industrial and the construction sectors, which saw production rising by 1.7% and 1.9%, respectively.
Even though sentiment among industrial producers had dampened somewhat, recent surveys showed a slight improvement in confidence, the ministry said.
July’s increase in productive output came after a revised 0.4% decline in June from May.
On a two-month sequential comparison – June/July vis-a-vis April/May – overall output was up 1.1%. Compared with June/July 2011, output was down 0.6% year on year.
In a related release,
For the second quarter, the index for Germany’s chemicals and pharmaceuticals production was 105.1 – compared with 105.8 in the 2012 first quarter and 112.0 in the 2011 second quarter. The index's base is 100.00 for 2005.
Earlier this week, Germany’s chemical producers' association VCI cut its 2012 forecast for the country’s chemical production, predicting a 3% year-on-year decline as eurozone weakness is affecting the domestic chemical business.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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