Europe: Market Report EU Chemicals Production Grows 1.7 % in Q1 2019 Compared to Q4 2018
Cefic has recently published its ‘Chemicals Trends Report’ and has revealed certain key findings for the European chemicals industry. Data regarding output in the chemical industry and other manufacturing sectors as well as sales and trade volumes can also be accessed via this report.
Brussels/Begium – The European Chemical Industry Council (Cefic) has recently published the most recent data on the output in the chemical industry and other manufacturing sectors as well as sales and trade volumes.
The key findings of the report are as follows:
• EU industry confidence posted a sharp decline which is considered to be the most significant decrease in eight years.
• Rising protectionism all over the world is negatively impacting industrial & economic activity; as a result, the output in the automotive sector, a key customer of the EU chemical industry has dropped below last year’s level.
• Despite this, Q1 of 2019 was good for the chemical industry with 1.7 % increase in chemicals output compared to Q4 in 2018.
• This could be partially due to the steady growth in the EU construction sector which seems to be less affected by the declining activity of most EU manufacturing sectors. Output in the construction sector was 4.6 % above the previous year’s level.
For more details please view the full Chemicals Trends Report here - https://cefic.org/app/uploads/2019/07/2019-07-10-Cefic-Chemicals-Trends-Report.pdf