Germany-based chemicals businesses posted an increase in sales of 17% in the third quarter, trade group VCI said, adding that growth rates were levelling off as government stimulus measures fade out. VCI, which represents the nation's fourth-largest industrial sector, said it still expects chemical-sector revenues to gain 18% this year, with output volumes rising 11%.
In the three months through September, output volumes were up 10 percent year-on-year, driven mainly by exports, which have reached pre-crisis levels, VCI said. Strong results from Bayer, Dow Chemical and BASF last week showed the recovery in industrial demand for chemicals remained in full swing, while demand for construction plastics remained sluggish.
