In the 2nd quarter 2011 the German chemical industry recorded a slight drop in production and sales, as compared with the extremely strong 1st quarter of the present year. This is no trend reversal for Germany’s third largest industry according to the German Chemical Industry Association (VCI). They say, statistical effects and fewer work days had a role in this “growth pause”.
For 2011 as a whole, the VCI maintains its growth forecast of 5 % for chemical production – as compared with 2010. With rising energy and raw material costs, prices of chemical products are likely to increase by 5 %. The VCI is anticipating chemical industry sales to improve by 10 % so that the German chemical industry should exceed for the first time the 180-billion-euro mark.