Economy
The mood in chemistry attracts vigorously
The business expectations in particular have risen suddenly – the industry relies on lower energy costs. The increase also gives hope for other economic areas.
Hope for lower energy prices and effects of the state investment packages have increased the mood in the chemical industry. The corresponding index of the Munich IFO Institute rose from minus 16.2 to minus 8.9 points in June. Above all, the expectations improved massively: if they were 5.4 points a month ago, they now jumped into the positive area to 9.5 points. That is the best value for three and a half years, it says from the IFO. The current business situation, on the other hand, is still very negative with minus 25.7 points.
“In particular, the planned reduction in electricity tax for industry is already giving the chemical industry noticeable upward wind,” says industry expert Anna Wolf. The significant improvement is remarkable. In addition to electricity tax, the planned investment package can also play a role here. Chemical products would also be needed here.
Good sign for the economy
The increase in expectations is also a good sign for other economic areas. Chemistry is a lead industry, says Wolf.
In the current business situation, however, it looks even bleak. The order stock is still considered to be extremely low. Although the demand for chemical products is stabilized, numerous companies planned with a decline in production and wanted to reduce staff.
Some companies benefited from sunken raw material costs and the first signs of an demand for demand in international markets. However, Protectionist US customs policy burdened the economic recovery of the industry, still high location costs and geopolitical uncertainties. “In this situation, the government investments decided by the Federal Government are urgently needed,” says Wolf.
dpa
Source: Stern
