German supply chain shortages ease but long way to go – ifo
2:19 am Thursday, March 30th, 2023
BERLIN (Reuters) – German manufacturers are seeing fewer material shortages but Europe’s largest economy is still a long way away from an ideal supply situation, according to an economic survey published on Thursday.
In March, 41.6% of the companies reported problems, down from 45.4% in February, the ifo institute said.
“This easing will have a positive impact on industrial production in the months ahead,” said Klaus Wohlrabe, head of surveys at ifo.
However, there has not yet been a fundamental reduction in procurement barriers in some of Germany’s key manufacturing industries, the institute said in a statement.
More than 60% of manufacturers of machinery and equipment, electrical and electronics companies, and automakers reported bottlenecks in raw materials and intermediate products, according to the survey.
(Reporting by Rachel More; Editing by Bernadette Baum)
