August 2001

Trends and Resources

HP Impact: HPImpact: Increased growth for EU chemical industry

The slowing output growth in 2001 is forecast to give way to improved activity for 2002, according to a recent economic outlook from the European Chemical Industry Council (CEFIC). It estimates that o..

Weirauch, Wendy, Hydrocarbon Processing Staff

The slowing output growth in 2001 is forecast to give way to improved activity for 2002, according to a recent economic outlook from the European Chemical Industry Council (CEFIC). It estimates that overall output growth in the European chemical industry will slow from 3.6% in 2000 to 2.0% this year. The decline in output growth is driven by the slowdown in world trade and economic activity and especially the deteriorating U.S. economy. The downturn will be only temporary, however. In 2002, overall output is forecast to grow by 3%. CEFIC's report forecasts that "Japan will again experience some weakness, and some major emerging Asian countries, heavily dependent on the U.S., will see the

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