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The operating conditions of the German chemical industry deteriorated further

 Last Update: 2023-01-04
 Source: Internet
 Author: User

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Recently, the German Institute for Economic Research (IFO) said that the operating conditions of the German chemical industry deteriorated further in October, as the industry struggled to pass on higher costs to customers, affecting profitability
.

In the Ifo survey, orders and demand for chemical products from the German chemical industry continued to decline in October, with more and more companies rating their earnings as poor
.
Raw material supplies from Germany's chemical industry deteriorated in October, with nearly half of the sector's companies reporting difficulties
sourcing intermediate goods, Ifo said.
Ifo chemical expert Anna Wolff said: "The chemical industry cannot escape the tense economic environment
.
The high cost of raw materials can no longer be easily passed on through selling prices, putting pressure
on the profitability of the chemical industry.
”

The IFO index assessing the state of the German chemical industry fell from -11.
7 points in September to -19.
9 points in October, and fell to -28.
5 points in the second half of 2022, in contrast
to 8.
3 points in the first half of the year.

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