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EU GDP GROWS 2.4% IN Q3

November 3, 2022

EU GDP grows 2.4% in the third quarter compared with the same quarter last year, according to a preliminary flash estimate by Eurostat.

This was the lowest positive reading since the the second quarter of 2021.

Compared to the second quarter, EU GDP grew only by 0.2%, lower than the the previous reading of 0.8%.

The sluggish growth reflects the slowdown in activity brought about by supply chain issues and inflation.

The polymer industry is feeling this slowdown in economic activity. Some companies have recently claimed activity slowed by 50% compared to the start of the year.

Polymers such as acrylonitrile butadiene styrene (ABS) and nylon engineering resins (PA6/PA66) registered heavy losses in recent months.