Germany: Recovery Slows for Europe’s Growth Engine

Germany’s chemical industry, the biggest in Europe and fourth biggest worldwide in sales terms, made a dramatic recovery from the recession of 2008-09 and posted extremely strong results in 2010 and early 2011. The rebound was driven by Germany’s prowess as an exporter of a wide range of manufactured products, not just chemicals. However, the upturn ground to a halt in mid-2011 due to stalling global economic growth and mounting concerns over the eurozone sovereign debt crisis. Industry executives and analysts are cautiously optimistic that the German...

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