China-US dispute affects growth at BASF - sportstextiles: Lea SportsTextiles

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China-US dispute affects growth at BASF

25/07/2019
Chemicals and performance materials group BASF has reported first-half sales revenues of €31.3 billion, on a par with the figure for the same six-month period in 2018.

Its materials segment brought in €5.9 billion for the quarter, down by 15% year on year. Its surface technologies segment brought in €7.4 billion, an increase of 11%.

BASF chairman, Dr Martin Brudermüller, said on announcing the results that global economic tensions had hindered growth. On the subject of the ongoing trade dispute between China and the US, he said: “We followed the general assessment that a solution would be found by the middle of the year. But now it seems the situation will not ease for some time. The global economic risks have increased significantly during recent months. These conflicts will not be resolved in the near future and are causing a noticeable slowdown in macroeconomic growth around the world, particularly in China.” 


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