In ----, the industrial production index for chemicals declined -.- on average, while for rubber and plastic products it plummeted an average of -.- , compared with growth of -.- and --.- respectively in ----. In the first four months of ----, the chemicals production index fell by a further -.- while the rubber and plastics index fell by -.- . ...Overall, ---- could be a worse year for chemicals production, while plastics are set to remain in a slump. However, we believe Spain s economic contraction is now bottoming out, with the country s increasingly- competitive labour market moderately boosting export growth and the outlook for investment spending improving over a medium-term time horizon, which should see the industry turn the corner in ----. Spain scores --.- points, leaving it in sixth and last place in our Western Europe petrochemicals business environment ratings. ...Production indices were also well above ---- levels and the sector has made a strong recovery since the collapse in output in ----.
...� Business Monitor International Ltd Page - fact that Spain s growth is based on exports, the impact of Brexit on the Eurozone s precarious growth will have a downside impact on consumption, production and investment, which until mid----- had been robust. The country s domestic markets are seeing uneven growth, with construction falling behind the automotive industry. ...In BMI s European Petrochemicals Risk/Reward Index, Spain scores --.- points, down -.- points since the previous quarter as a result of the negative risk associated with Brexit, which will directly impact on export markets that sustain Spanish petrochemicals. On the upside, investor sentiment is generally positive, with new compounding and processing facilities being started up, although Spain is unlikely to fully recover over the medium term and petrochemicals capacity will remain lower than before due to permanent plant closures. However, Spain retains sixth place in our regional rankings, -.- points behind ...On the upside, investor sentiment is generally positive, with new compounding and processing facilities being started up, although Spain is unlikely to fully recover over the medium term and petrochemicals capacity will remain lower than before due to permanent plant closures. However, Spain retains sixth place in our regional rankings, -.- points behind
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