Chemicals maker Dow missed second-quarter profit estimates on Thursday, hurt by lower prices and demand.

The Midland, Michigan-based company reported operating earnings per share of 68 cents for the quarter ended June 30, compared with the average analyst estimate of 72 cents, according to LSEG data.

Dow produces a vast range of chemicals and additives that are used in manufacturing a variety of end-products in the consumer, agricultural and energy sector.

In June, Europe's largest economy, Germany, saw a decline in business activity on weakness in the manufacturing sector due to low demand for industrial goods for a variety of reasons including stiff competition from China.

Additionally, China's manufacturing activity contracted in May and June, with economic data in the last month of the quarter showing indexes of raw material stocks in contractionary territory.

Dow's net sales fell 4% to $10.92 billion in the reported quarter, compared with estimates of $11 billion per LSEG data.

Local prices in its key markets also decreased 4% year-over-year.

(Reporting by Seher Dareen in Bengaluru; Editing by Shinjini Ganguli)