Paper industry insiders have rarely been this uncertain about what the next few months will have in store.
According to German Ifo Institute, Germany’s economic output will contract by 0.4 per cent in 2023. Next year, it is forecast to grow by 1.4 per cent, which would be 0.1 percentage points less than previously predicted. The Institute forecasts a 1.2 per cent growth in 2025.
"Contrary to expectations so far, the recovery will probably fail to materialise in the second half of the year. The slowdown is continuing, and this trend is seen across almost all industries,” remarked Timo Wollmershäuser, ifo’s Head of Forecasts.
In light of this situation, EUWID contacted a number of German and European industry associations to find out more about how they view the situation and the trend for the second half of the year. While it is clear that hardly any sectors will escape persistently low demand, there are still a few rays of hope.
⇒ This is an excerpt from a comprehensive article to be published in EUWID Packaging Markets 19/2023.
