Germany’s chemical industry is showing signs of recovery as supply disruptions in Asia and the Middle East redirect demand towards European producers. The Ifo business climate indicator for the sector jumped sharply in August, reaching its strongest level in years. However, the recovery remains fragile. German chemical production is still around 20% below 2021 levels, while capacity utilisation remains historically weak. The improvement may therefore reflect temporary global disruptions rather than restored European competitiveness.
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