German manufacturers have problems with shortage of materials
2023.01.03 10:20
German manufacturers have problems with shortage of materials
Budrigannews.com – According to a survey conducted by the Ifo economic institute and released on Tuesday, material shortages eased further in Germany’s manufacturing sector toward the end of the year.
According to the survey, problems were reported by 50.7% of the businesses surveyed in December, down from 59.3% in November and the third consecutive fall.
According to Klaus Wohlrabe, head of surveys at Ifo, “shortages appear to be easing in many industries,” which will support the economy in the coming months.
He added, “However, depending on how the corona situation develops in China, there may be setbacks in the bottlenecks again.”
According to the survey, the number of businesses experiencing material shortages decreased in almost every manufacturing industry, though some of the numbers were still significantly higher than their long-term average.
The automotive industry and machinery and equipment manufacturers remained the hardest hit.
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