German Steel Sector to Stagnate in 2008

Deutsche Welle | 30.12.2007

After years of record growth, Germany’s key steel sector is likely to face more uncertain times as the fall in the dollar and the global credit crunch raise business risks, the nation’s steel industry association said.After years of record growth, Germany’s key steel sector is likely to face more uncertain times as the fall in the dollar and the global credit crunch raise business risks, the nation’s steel industry association said.

[he said] major export industries such as the automotive field and electrical engineering were likely to be hit by a weaker dollar with automakers also scaling back demand as a result of concerns about new CO2 emission rules.

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