The economic slump in the plastics manufacturing industry continues, reports Plastics Europe Deutschland (PED).

 

According to the association of plastics manufacturers, all key economic indicators such as production, turnover and foreign trade for German companies continued to decline in the third quarter of 2023. Despite slight growth, incoming orders in Germany were around 10% below the previous year's level due to the tense economic situation in many customer industries. "The high costs and the weak economy are increasingly becoming a problem for plastics producers in Germany," emphasizes Ingemar Bühler, Managing Director of Plastics Europe Germany, "in view of the weak recovery of the global economy, we expect a 15% decline in the production of primary plastics by 2023 compared to the previous year." According to Bühler, Germany still has the disadvantage of high energy and production costs. The budget crisis and the strict interpretation of the debt brake could further exacerbate this problem. The German government should quickly release the announced investments for the transformation. There was no time for election campaigns or party tactical maneuvers. The industry needed reliable commitments.
 
Further information: download the PED Quarterly Report 3/23 (in German)
 
Sources:

• PED press release (Dec. 13, 2023)
• Graphic: © PED