BRUSSELS (PRWEB UK) 15 November 2012
EU chemicals production fell by 2.2 per cent in the first eight months of 2012 compared with the same period in 2011, according to the latest Cefic Chemicals Trends Report. Monthly data for August 2012 showed a 2.2 per cent drop compared with the reading for the same month in 2011. Data for the first eight months of the year point to EU chemicals production remaining 5.8 per cent below the 2007 peak levels.
Prices for chemicals in the European Union in August climbed on a year-on-year basis, up 1.0 per cent during the month against the comparable period in 2011. The price increase was led yet again by the overall price hike in basic inorganics. Overall prices for chemicals rose by 2.7 per cent during the first eight months of 2012 against the comparable period in 2011.
Latest trade data show the EU chemicals net trade surplus increased further through the first seven months of 2012 by €6.6 billion compared with the same period of last year, reaching €29.1 billion. Overall chemicals sector confidence decreased by 2.4 points, the decline being mostly due to more negative assessment of the current level of overall order books. This is in line with the downward trend of EU confidence of the overall manufacturing sector, analysis of the most recent EU Commission data indicates.