16 May 2013 10:01 [Source: ICIS news]
LONDON (ICIS)--EU chemicals production fell 1.7% year on year in the first two months of 2013, trade group Cefic said in its Chemicals Trends Report on Thursday.
The EU chemicals production level for January and February in 2013 remains 8.1% below the peak in 2007, data also show.
Chemicals production in February showed a 2.3% drop compared with the same month the year before, it added, dragged down by specialty chemicals, which dropped 4.2% year on year.
Lower overall production was also affected by petrochemicals, down 1.5% in February compared with the same month last year.
Basic inorganics and consumer chemicals production decreased 1.2% and 1.1% respectively on a year-on-year basis in February, while polymers output registered no significant changes, Cefic added.
The trade group’s Chemicals Trends Report also showed that EU chemicals prices in February rose by 1.1% year on year, driven by the price for plastics, which increased by 3.0%.
“Prices climbed for consumer chemicals by 1.2%, while pharmaceuticals prices edged down by 0.1% in February as compared with the year prior. EU chemicals producer prices recorded a 1.8% upward bump in the first two months of the year compared to the same two-month period in 2012,” it added.
Meanwhile, the EU chemical industry confidence indicator (CCI), generated by Cefic, shows confidence in the chemical industry declined in April by 3.5% compared with February, the third straight month of decline, mainly due to lower order-book assessments.
Cefic also announced that EU chemicals sector employment for the whole of 2012 was 0.1% lower compared with 2011.
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