The shortage of materials in German industry has worsened, according to the German Ifo institute.
80.2% of companies complained in March about entanglements and problems in the supply of intermediate products and raw materials. In February, the rate was 74.6%.
“The attack on Ukraine has once again worsened the situation for many companies,” said Klaus Wohlrabe, head of Ifo research. “New problems in supply chains have now been added to the existing ones. 17% of industrial enterprises import from Russia, for example.”
In key sectors of German industry, shares remained almost unchanged at a very high level. Thus, about 90% of companies from the automotive, engineering and electrical industries reported supply problems. In the chemical industry, the share increased from 58.4% to 70.5%. Among clothing manufacturers, too, many more companies reported shortcomings. “Initially, companies expected the situation to ease in the summer. This will be further delayed,” Wohlrabe added.
Source: Capital
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