March 12, 2019 / 9:02 AM / 5 months ago

German chemical industry sees 2.5 pct decline in 2019 revenue

FRANKFURT, March 12 (Reuters) - The association of German chemicals and pharmaceuticals producers, VCI, cut its forecast for 2019 industry revenue to a decline of 2.5 percent, where it had previously seen a gain of 2.5 percent.

The association, representing businesses with operations in Germany, said it was seeing a downturn in demand from its domestic market and across Europe, particularly from the automotive industry.

“In addition, the Brexit process has already caused a negative impact on investment and trade - even though a final decision is still outstanding,” VCI said in a statement on Tuesday.

It added that a one-off boost from the production of a pharmaceutical product it did not name had abruptly stalled during the fourth quarter.

Reporting by Patricia Weiss Writing by Ludwig Burger Editing by Riham Alkousaa

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