German chemical industry group VCI said on Thursday that both third-quarter sales and production were higher year-on-year.
In the third quarter, chemical production rose 2.9% from a year earlier. Sales for the quarter increased despite falling prices, up 6.1% over the same period last year.
Continue Reading Below
The industry group said production grew strongly in the summer months and capacity utilization remained at a high level. Germany's robust economy helped domestic business, VCI said, and demand from Europe, Asia and U.S. was also strong.
VCI increased its 2017 outlook for production, saying it now expects production to increase 2%, compared with 1.5% previously. It expects chemical prices to increase 3% and industry revenue to increase 5% to about EUR194 billion.
Write to Sonia Amaral Rohter at firstname.lastname@example.org
(END) Dow Jones Newswires
November 02, 2017 05:48 ET (09:48 GMT)