German Chemicals Sector Still Sees 1 Pct Higher Sales in 2014

German chemicals trade group VCI on Tuesday reiterated its sales growth forecast of 1 percent for 2014, banking on strong business in China and North America to offset weak growth in domestic demand.

"The chemicals business has stabilised after the setbacks in the second quarter," said the lobby group's President Marijn Dekkers, the chief executive of Bayer.

"We are expecting only a slight recovery in chemicals demand in Germany over the next few months. Our hope lies mainly with the business abroad," Dekkers added.

VCI, which represents Germany's third-largest industrial sector, said it still saw revenues at Germany-based chemicals businesses growing by 1 percent to 192.5 billion euros ($241 billion) this year.

Third-quarter revenues at Germany-based chemicals businesses were up 0.5 percent from a year earlier, on flat output volumes and 0.6 lower prices.

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