Business Climate in Germany’s Chemical Industry Improves Slightly
In February, the business climate in the German chemical industry brightened a little. The indicator rose to -15.7 points, up from -16.1 points* in January, due to better assessments of the current business situation. Expectations, however, turned somewhat more pessimistic again. “The climate in the German chemical industry is still rough, but there have also been some surprising rays of hope,” says industry expert Anna Wolf of the ifo Institute.
For the first time in almost two years, demand for chemical products rose and there were more orders than in the previous month. Chemical companies increased their production in February. A few companies are also refraining from further price reductions. “These results, together with the normalization of electricity and gas prices, raise hopes that an upturn is close at hand,” Wolf says.
*Seasonally adjusted
