24 September 2010 18:05 [Source: ICIS news]
Ifo institute’s widely followed business climate index for
The index is based on a survey of some 7,000 executives in manufacturing, construction, wholesaling and retailing.
“For the near future, [firms] continue to be optimistic, although not quite as much as in August,” said Ifo.
Ifo said that in manufacturing, producers still saw good prospects for exports, but no longer expected the fast expansion of previous months.
Manufacturers’ employment plans were “marginally more reserved” than in August, but layoffs were generally not expected, the institute said.
Government stimulus measures had expired and public budgets were under pressure, auguring a slowdown in growth, the group said.
Also, GDP growth in the
While 2010 would clearly be much better for Germany's chemical producers than the “2009 disaster year”, there was no cause for euphoria, BAVC said.
Germany's chemical industry was typically an “early beneficiary” in times of rising GDP and increasing exports – which explained the industry strong first-half performance. However, chemical producers also suffered disproportionately in times of decline, it added.
The country’s GDP growth has been put at up to 3.4% for the full year.For more on German chemical producers like BASF, visit ICIS company intelligence
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