11 September 2012 17:52 [Source: ICIS news]
“According to recent economic indicators,
“However, we cannot issue an ‘all-clear’: the economic downward risks outweigh the positives and remain significant,” it added.
The ministry pointed to recent increases in Germany's production and industrial orders, and to economic sentiment surveys that indicated some improvement in confidence among firms.
Furthermore, the ministry noted rising German imports from
As for developments outside Europe, the ministry noted weak second-quarter economic performances in the
“The global economy remains fragile, which means that the environment for
The ministry also said that government bond purchases by the European Central Bank (ECB) can only provide temporary relief to ensure liquidity in the economy.
However, such measures were no substitute for credible structural reforms in the affected eurozone member countries, the ministry said.The ministry's assessment for Germany compares with a report by the Organisation for Economic Co-operation and Development (OECD) in Paris, which last week forecast that the eurozone's three largest economies –
Also last week,
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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