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De chemical industry growth will slow in the second half
The German Chemical Industry Association forecast last week that the German chemical industry will slow down in the second half of this year. "Compared to the trough of economic recession, chemical industry will continue to grow. We are full of confidence for the next few months," said VCI President Ulrich Reina. VCI expects that the German chemical industry's annual sales revenue for 2010 will grow by 10%, and production will increase by 8.5%. In the first half of this year, the output of the German chemical industry increased by 13% over the same period of last year. In the first half of last year, it was at the lowest point of the economic recession. In the first half of this year, German chemical sales increased by 16% to 77.7 billion euros (95.5 billion U.S. dollars). Among them, overseas sales rose by 18% to 45.9 billion euros; German domestic sales increased by 13% to 31.8 billion euros. According to experts from the Chinese phenolic resin network, although production levels before the financial crisis have not yet returned, almost all production facilities temporarily shut down due to the economic downturn have been restarted. The German chemical industry is satisfied with the progress of the recovery so far. In the first half of the year, the capacity utilization rate of German chemical plants reached 83%, while the historical average was 84% ​​to 86%.