19 June 2012 14:05 [Source: ICIS news]
The worsening of the situation in the Spanish banking sector and the insecurity about the outcome of the Greek election are likely to have contributed to June's sharp decline, Mannheim-based ZEW Centre for European Economic Research said.
ZEW said that its economic sentiment indicator for
"The financial market experts’ expectations are a strong warning against a too optimistic assessment of
“The risks of a pronounced decline in economic activity in countries with close trade ties to
“In addition, there is a situation in the eurozone which continues to be precarious. The outcome of the Greek vote is a short breathing space – just that, nothing more and nothing less," Franz said.
Germany’s government forecasts the country’s 2012 GDP growth at 0.7%.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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