Economy: Ifo Institute: No end to the lack of material in sight

The shortage of materials continues to have a firm grip on German industry.

Economy: Ifo Institute: No end to the lack of material in sight

The shortage of materials continues to have a firm grip on German industry. Almost three quarters (73.3 percent) of companies reported bottlenecks in a survey in July, as the Munich Ifo Institute announced on Monday. Although that is slightly less than in June and the lowest value since February, it does not mean relaxation: "There are no signs of a significant recovery in the procurement of important materials for the next few months," said Klaus Wohlrabe, head of the Ifo surveys .

The situation remains critical, especially in the core sectors of German industry. In the electrical industry, mechanical engineering and the automotive industry, "around 90 percent of the companies" reported that they did not get all the materials and preliminary products, according to the Ifo. "In addition to the fundamental shortage of electronic components, problems in global logistics, especially in shipping, continue to contribute to the procurement problems," explained Wohlrabe.

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