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Record number of German firms facing supply problems: Ifo

Bottlenecks which have hampered industry for months

23 December, 13:48
(ANSA-AFP) - FRANKFURT AM MAIN, DEC 23 - A record number of German companies said they were experiencing supply issues, data published Thursday showed, as bottlenecks which have hampered industry for months tightened once again in December. Almost 82 percent of businesses surveyed by the Ifo institute reported problems sourcing raw materials or components -- the highest proportion recorded by the Munich-based think tank. In November, 74.4 percent said they were facing shortages, after the situation had eased slightly in October. "German manufacturing faces a paradox. Order books are full, but the shortage of materials means companies can't ramp up production accordingly," said Ifo survey head, Klaus Wohlrabe. Manufacturers of electrical equipment were the worst-affected by shortages in the latest survey, with 93.8 percent reporting difficulties amid an acute lack of semiconductors. (ANSA-AFP).

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