German Chemical Industry Confident Again for the First Time
The business climate in the chemical industry in Germany recovered in May and returned to positive territory again for the first time since March 2022. Its index rose to +5.8 points from -5.2* points in April. “Confidence is returning to the German chemical industry,” says industry expert Anna Wolf from the ifo Institute.
For the first time in almost two years, the proportion of companies with a positive assessment of their situation is back in the majority. The outlook for the coming months has become more optimistic. Demand for chemical products has picked up and the order books are fuller, albeit at a low level. Export expectations have continued to improve. The first chemical companies are already planning sales price increases in the coming months. The earnings situation has also eased. “However, the losses of previous years have not yet been recouped, which means that the majority of companies are still struggling with a barely satisfactory to poor earnings situation,” says Wolf.
*Seasonally adjusted
Publication
ifo Konjunkturperspektiven is a monthly German-language online publication that presents the latest results from ifo’s business surveys in the form of graphics and tables.
