Energy Business climate in the German chemical industry rises unexpectedly
The mood in the chemical industry in Germany is defying the general downward trend, according to the Ifo Institute. Electricity prices are helping here.
11.09.2024, 08:53
SDA
After two consecutive declines, the business climate in the German chemical industry brightened surprisingly in August. The index compiled by the Ifo Institute rose by 4.2 points to a value of minus 5.6 points, according to the Munich-based economic researchers.
In particular, the companies surveyed rated their current business situation much more positively again with a plus of 1.2 points. However, expectations for the coming months deteriorated slightly.
"Sentiment in the chemical industry is defying the general downward trend," says Ifo expert Anna Wolf. "The decline in energy prices, which has been ongoing for almost a year, is contributing to economic stabilization in the chemical industry."
However, there is far from widespread confidence in the industry. For example, 40.1% of companies complained about declining order backlogs. However, at least export expectations were slightly positive.
