12 March 2014 14:13 [Source: ICIS news]
LONDON (ICIS)--Germany’s chemical production rose 2.3% in the 2013 fourth quarter from the third, driven by higher pharmaceuticals output, the country’s chemical producers trade group VCI said in an update on Wednesday.
Compared with the 2012 fourth quarter, chemical production was up 3.7% year over year.
Excluding pharmaceuticals, chemical production rose 1.9% in the fourth quarter from the third, and it was up 3.2% year over year from the 2012 fourth quarter, VCI said.
However, producer prices continued their descent, falling 0.5% in the fourth quarter from the third and 2.6% year over year from the 2012 fourth quarter.
"Polymer prices were the exception, which let’s us hope that there will soon be an end to the price decline," VCI added.
The industry’s capacity utilisation was 84.4% in the fourth quarter, compared with 83.6% in the third.
VCI maintained its previous forecast of a 2.0% increase in Germany’s chemical production in 2014. With a forecast 0.5% price decline, full-year 2014 sales in the industry should rise 1.5% to €191.5bn.
Prospects for 2014 are currently good for the chemical industry, as the upward trend towards the end of 2013 continues, with all sectors of the industry seeing stronger business, said VCI general manager Utz Tillmann.
VCI expects rising demand for chemicals at home and abroad, especially from European industrial customers, Tillmann said.
However, the political crisis in the Ukraine poses risks for the global economy, he added.
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