KONSTANZ, GERMANY (Aug. 14, 12:45 p.m. ET) — Fewer members of the chemicals and plastics industry are optimistic about their business, as problems in Europe continue to hinder global trade, according to a bimonthly survey from Ceresana Research.
The Ceresana Industry Monitor (CIM) midsummer survey was carried out from July 2-15 and involved companies from 41 countries.
According to the results, 30 percent of the companies interviewed rated their current business situation as good, showing a dampening in optimism compared to the spring results, when the percentage was slightly higher at 40 percent.
Ceresana says the banking crisis in the EU and the recession in southern Europe means the region is no longer a strong sales market for foreign produce. Most of the reductions in workforces will take place in Europe, with 26.7 percent of companies in Western Europe and 15.8 percent in Eastern Europe say they expect to reduce staff numbers.
However, Europe is not the only region in difficulty as the United States also saw its economic development decline.
The survey also looked at funding and asked companies how they rate opportunities for obtaining loans from credit institutes. A quarter said opportunities are “good,” 29 percent said “poor” and one third said they were satisfied with the situation.