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Ifo: Sentiment in German Chemical Industry Deteriorates to Three-year Low in April

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-- Morale across Germany's chemical industry weakened in April as businesses consider the "slight" rebound in the current situation due to the Iran conflict-related supply chain disruptions unsustainable amid rising costs and material shortages.

The business climate index dropped to -29 points, the lowest level in almost three years, from -25.1 points in March, the ifo Institute said Wednesday. The indicator for the current business situation improved to -27.1 points from -31.2 points as demand for local products increased.

At the same time, price expectations plunged to -30.9 points from -18.6 points amid material shortages and plans to lower production in the coming months.

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