You can access the "Cefic Chemical Industry Monthly Report (CMR)" for the quarter dated December 1, 2022.
High energy prices and economic uncertainty continue to reduce chemical production in the EU27 region
- The global PMI index crossed the 50 threshold for the first time since mid-2020. The Economic Sentiment Indicator has reached its lowest level since August 2020.
- The latest global manufacturing flash PMI reading crossed the 50 mark, marking a contraction in manufacturing after months of deterioration and for the first time since mid-2020.
- The weakening global consumer demand environment is beginning to show in a number of indicators, including the first month-on-month global air travel demand since January and April, and the global light vehicle sales rate, respectively.
- PMI readings for major European economies worsened on an equal basis, pointing to a weaker environment going forward.
- The Drewry World Container Index fell significantly.
- Chemicals business confidence fell eight months in a row.
- EU27 chemicals business confidence down eight months since March 2022
- EU27 employment prospects and finished goods inventories rose by letters.
- While production of chemicals fell, other manufacturing continued to grow.
- Chemical production in the EU27 region decreased by 3% in the January-September 2022 period compared to the same period in 2021.
- The data show a significant impact on chemical production in most EU countries.
- EU27 chemical sales prices well above historic levels
- Capacity utilization fell more strongly for chemicals than for manufacturing.
- The energy crisis continues to deeply affect the chemical industry and business activities in Europe.
- Data analysis confirms the separation between production and chemicals.
- Natural gas prices recorded in Europe are still well above other main regions.
- Gas prices in Europe are still 6.2 times higher than in the US.
- Oil price recovered in October 2022 as the euro depreciated against the dollar.
- Natural gas fell 35% in October 2022, yet the European Economy trade deficit rose to a record 245 billion euros, well above 2021 levels.
- Chemicals is the third largest import sector of the European economy with 8% (139.5 billion €, January-July 2022)
- At 57%, chemicals show the second largest import growth in the EU27 manufacturing sector (2022, January-July)