Business News

Jul 8, 2009, 10:52 GMT

German chemical sector expects recovery despite sharp output slump

Berlin - Despite forecasting the biggest drop in German chemical production since 1975 this year, the VCI industry association expressed cautious optimism Wednesday about the outlook for what it calls one of the nation's key export sectors. 'Despite the low hanging clouds we can now make out a glimmer of hope,' said VCI chief Ulrich Lehner releasing the industry's latest forecasts. In the meantime however the VCI said with global chemical demand dragged by recession, production in Germany will fall by 10 per cent this year to post its biggest drop since the 1975 oil crisis. Turnover for 2009 is forecast to decline by 12 per cent. Already industry turnover slumped by 16.5 per cent during the first of the half of the year to 69.7 billion euros with production falling by 15.5 per cent. Foreign deliveries fell by 17 per cent with domestic deliveries dropping by 16.5 per cent, the VCI said. However, chemical production appears to have stabilized in recent months, said Lehner. 'Our companies for the most part now expect a modest recovery in the chemical business during the second part of the year,' he said.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
Facebook and MySpace cull 3,500 sex offenders - The Tech Herald
Sherlock Holmes Has A New Gimmick: Motion Seats - Cinema Blend
Meredith Baxter Reveals She's Gay - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

EADS post 77 percent drop in third quarter profits
Allianz shares surge on the back of forecast-beating Q3 profit
German IT businesses expresses optimism about 2010
Thousands of jobs to go at German mail-order unit Quelle (Roundup)
Job losses loom as German mail-order unit Quelle set to close

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

Christine Lahti

From Sites we Like

I ain't here to cause no trouble. I'm required by law to do the Sex Offender Shuffle [Amusing]
Father issues bad check, gets arrested. Son goes to pick him up, is arrested for driving with a suspended license. Fark: Bad check was for son's court fines and fees from prior arrest [Fail]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint