The business climate in the chemical industry in Germany deteriorated in June after improving four times in a row. The index fell to -4.5 points from +4.9 points in May. “This has interrupted the upward trend in German chemical industry,” says industry expert Anna Wolf from the ifo Institute.

Both the assessment of the current business situation and business expectations slipped into negative territory in June. Demand for chemicals fell again, and the order backlog suffered an outright slump in June from what was already a very low level. Companies have reduced their production and are planning to get by with fewer staff in the coming months. Companies’ export expectations are once again pessimistic, with the indicator falling slightly into negative territory. “However, the chemical industry is not the only cause for concern in the German economy. The falling order backlog is causing headaches for manufacturing as a whole,” says Wolf.

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Fibre2Fashion News Desk (HU)