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Despite a recovery in the summer, the German chemical and pharmaceutical industry expects a drop in sales this year. In view of the crown crisis, revenue will fall by six percent to 186.4 billion euros, the industry association VCI announced on Wednesday in Frankfurt.
Compared with the previous year, production is likely to fall three percent, prices would fall two percent. In the third quarter, however, the industrial sector with around 464,000 employees in Germany rebounded from the Corona crash in the first half of the year.
Production increased 1.9 percent compared to the previous quarter, while sales grew 2.8 percent to almost 44 billion euros, thanks in part to a slight increase in producer prices. Economically sensitive chemicals in particular benefited from higher industrial demand. The level of the previous year has not yet been reached.
With the second corona wave and tighter containment measures, the outlook has now deteriorated again, VCI President Christian Kullmann said. The industry faces a difficult last quarter. “Even if the rebound in the industry was strong, Corona threatens a new brake. The federal government must avoid permanent economic damage. “
