Hungary chemicals production falters

Huingary’s economy and chemicals industry continue to suffer:

According to a new report by the Central Statistics Office, quoted in financial site www.portfolio.hu, “significant price cuts occurred in the manufacture of chemicals and chemical products (2.2%) mainly due to the fact that the price of fertilisers and nitrogen compounds were slashed by 17%.”

“Domestic industrial producer prices in Hungary decreased by 0.3% in May 2009 compared to the previous month and were 1.8% higher than in May 2008. Export sales prices in the industry in HUF diminished by 3.2% compared to April 2009 and were higher by 9.2% compared to the corresponding month of the previous year.”

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