Last year posed significant challenges for chemical, metal, and machinery manufacturers in Germany. Their production was reduced due to an energy crisis, and this worrisome trend continues, signaling a deep industrial recession.
One of the main reasons for this instability is the high energy prices caused by reduced supplies from Russia last year. This significantly dampens demand for energy-intensive industries, especially in the chemical sector.
Despite some reduction in gas prices, Germany’s industry continues to face difficulties, negatively impacting production volumes. Economic conditions remain unstable and uncertain.
This downturn also has a serious impact on chemical product manufacturers, with a further decrease in production expected in this sector in 2023. Germany plays a crucial role in this negative dynamic, facing a decline in production orders.
It is worth noting that concerns extend beyond energy prices alone. There are also serious worries about a recession and reduced gas demand, linked to high interest rates and companies transitioning to renewable energy sources.
All these factors point to a complex economic situation affecting not only Germany but the entire Europe, causing uncertainty in both the industry and the economy as a whole.
