Germany pegged for slight 2013 improvement in chemical production, sales


German chemical industry association Verband der Chemischen Industrie eV said Wednesday it expects production in the sector to rise 1.5% next year and sales to grow 2%.

Domestic sales are likely to be stable, but exports to other European countries, particularly in southern Europe, are likely to decline further in 2013, it said.

"Hopes for a tangible recovery are still in the future," VCI president Karl-Ludwig Kley said at a press briefing.

But there is no reason to be overly pessimistic, and there is no sign of a recession in Germany, Mr. Kley added.

The association confirmed its 2012 outlook of a production decline of 3% and a 2.5% rise in producer prices. It forecasts a 0.5% increase in producer prices for 2013.

Dow Jones Newswires

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