economic situation
Survey shows hope in chemistry
The business climate in the chemical industry has surprisingly jumped significantly. Above all, expectations have improved – also thanks to plans by the federal government.
The chemical industry in Germany is gaining hope again. The business climate for the industry surveyed by the Munich Ifo Institute jumped by almost 10 points in October and is now only 3.1 points in the red. Above all, the outlook improved: from minus 15.9 to plus 4.7 points.
“Chemical companies are pinning their hopes on the federal government’s electricity price package,” says Ifo industry expert Anna Wolf. The measure, which is intended to relieve companies and strengthen their competitiveness, is being received positively by the chemical industry. However, chemicals continue to suffer from the weakness of the manufacturing sector and subdued demand. The companies surveyed estimate their current situation to be slightly worse than a month ago, at minus 10.6 points.
This is also reflected in the details of the survey: According to Ifo, the order backlog has fallen again and capacity utilization has fallen to its lowest level since 2009. Companies also increasingly viewed their earnings critically. Financing bottlenecks have increased and are inhibiting the willingness to invest. Against this background, Wolf praises: “It is right to relieve the burden on chemical companies now in order to maintain production capacity in Germany through the economic crisis.”
dpa
Source: Stern
