Business Climate in the German Chemical Industry Brightens
The business climate in Germany’s chemical industry improved in March. The index rose to -10.5 points, up from -15.5 points* in February. Business expectations improved sharply, with the indicator climbing to -2.9 points, up from -14.9 points in February. “Although the order situation in the chemical industry still leaves a lot to be desired, companies seem to have weathered the worst of the crisis,” says industry expert Anna Wolf from the ifo Institute.
According to the German Federal Statistical Office, chemical companies in Germany recorded strong price-adjusted production growth of 4.6% in February 2024 compared to January 2024. In March 2024, the chemical industry again had expansionary production plans. Job cuts slowed down. Chemical companies expect demand to be driven primarily by exports.
*Seasonally adjusted
