14 September 2012 11:00 [Source: ICB]
Although 2011 started off with strong signs of recovery in many markets, by the second half the worsening banking and eurozone crisis began to sap confidence. Growth has continued to be lacklustre in 2012.
In some emerging markets growth decelerated sharply as the knock-on effect of problems in mature markets rippled across the globe. Many Latin American companies achieved double-digit sales growth. But slowing growth in Brazil hit results for Braskem.
Low-cost producers in the Middle East and Africa continued to perform well in 2011 with strong demand and pricing. Shale gas feedstocks also started to boost North American companies' sales and profits. Europe, meanwhile, maintained its position with a solid performance in challenging conditions.
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