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German chemicals sector sees 1.5 pct sales growth in '14 and '15
December 8, 2014 / 10:08 AM / 3 years ago

German chemicals sector sees 1.5 pct sales growth in '14 and '15

FRANKFURT, Dec 8 (Reuters) - German chemicals trade group VCI on Monday said it expected industry revenues to gain 1.5 percent next year and also lifted its sales growth estimate for 2014 to 1.5 percent from 1 percent previously.

VCI, which represents Germany’s third-largest industrial sector, said it expected 2015 output volumes at chemicals businesses based in Europe’s biggest economy up 1.5 percent and prices charged to customers down 0.5 percent.

The industry association last month predicted sales growth of 1 percent for this year, banking on strong business in China and North America to offset weak growth in domestic demand.

VCI on Monday reiterated its forecast for 2014 output volumes to increase by 1.5 percent.

The largest German chemical companies are BASF, Evonik and Bayer. Major foreign producers such as Dow Chemical and LyondellBasell also operate sites in Germany, which is Europe’s largest chemical producing nation.

$1 US dollar = 0.7996 euro Reporting by Frank Siebelt; Writing by Ludwig Burger; Editing by Maria Sheahan

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