Germany’s VCI cut 2015 estimates for chemical prices, revenues
According to the trade group, chemical industry sales will decrease 0.5% to €192.2 billion and product prices will decline by 2% in 2015. VCI kept its forecast for chemical industry output for 2015 unchanged. According to VCI, Germany’s chemical output will grow 1.5% this year.
The trade group also reported that the country’s chemical production, prices and sales as well as capacity utilization rate decreased in the last quarter of 2014. Chemical production declined 0.3% on a quarterly basis in the last quarter while prices decreased 0.9%. Sales slipped 0.4% and capacity utilization rate was reported at 83.3% for the last three months of 2014.
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