BERLIN (Reuters) - The German chemical sector slipped further into crisis in September, the Ifo economic institute said on Friday, pointing to the results of its latest survey which showed dwindling order books and weak foreign demand.
"Overall, there were hardly any bright spots in September. The chemical industry is in a deep crisis," Ifo industry expert Anna Wolf said in a statement.
Business sentiment in the sector fell to -19.3 points from -16.3 the previous month, the institute said.
Companies' assessment of the current situation showed no major change but their outlook clouded further, with the September survey showing a drop in export expectations.
The German chemical sector, which employs roughly half a million workers, was heavily impacted by the energy crisis following Russia's invasion of Ukraine, and has called for state relief in order to stay competitive.
The VCI association representing the sector expects a 5% decline in production this year and a 7% fall in sales.