Energy Markets
VCI, Germany's chemical sector sales company, says that the first quarter of 2013 saw a 1.8% increase in sales.
VCI, the industry lobby, said that the quarterly sales of the German chemical industry increased by 1.8% compared to last year. This was due to higher demand, and the pull-forward effect from U.S. clients stocking up. The industry has been strained by high production costs, increasing bureaucracy, and a stagnant economy in Germany. Tariffs from the United States have made the situation worse. VCI reported that sector-wide sales increased to 54.8 billion euro ($61.73billion) in the first three months, up 4.4% from the previous quarter. The German chemicals association has confirmed its annual forecasts for Germany’s third-largest industry despite the...