The EU chemical industry has yet to return to its pre-crisis levels of growth. But while this doesn't look set to happen anytime soon, there are some rays of hope, as identified by the European Chemical Industry Council (Cefic) in its mid-year summary forecast.This past June, Cefic said that, following "a relatively weak 1.3 per cent increase" in 2011 production levels, it anticipated a "standstill" in EU chemical output in 2012. "Cefic predicts chemicals output during the rest of 2012 will remain nearly 5 per cent below peak levels reached in 2007," the Council said. "Growth in 2013 is expected to pick up slightly to 2 per cent despite austerity measures and continued high unemployment levels."
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