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Germany’s VCI cut 2015 estimates for chemical prices, revenues

by ChemOrbis Editorial Team -
  • 26/02/2015 (17:04)
According to Germany’s chemical trade group Verband der Chemischen Industrie (VCI), chemical industry revenues and prices in Germany will decrease in 2015 due to lower crude oil prices and weak economic growth in Europe. In December, VCI had forecast a 1.5% gain for the country’s chemical industry revenues and 0.5% decrease in chemical product prices.

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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