EU chemicals production fell by 2.2% year-on-year in the first eight months of 2012, according to the latest Cefic Chemicals Trends Report released Thursday.
Output decline in August was led by two chemicals subsectors -- specialty chemicals and consumer chemicals -- which fell by 4.6% and 3.6% respectively. In the month, polymers production fell by 2.8%, rubber and plastic products declined 2.6%, petrochemicals slumped 2.3% and basic inorganics dipped by 0.2%.
The only sector that posted positive output was the machinery and equipment industry.
Chemical prices in the EU in the month of August climbed 1% year-on-year led by an overall price hike in basic inorganics. Overall prices for chemicals in the first eight months of 2012 rose by 2.7% compared to the same period in 2011.
Based on Eurostat data, the production index of the EU manufacturing sector as a whole went down by 1.6% in the first eight months this year compared with the year-ago period.
Sectoral analysis shows that construction and basic metals categories -- key chemicals industry customers -- each fell by 4.7%. Output in the food and beverage sector, as well as the auto sector, was anemic in this timeframe, Cefic said.
