BERLIN (Reuters) – Material supply problems in German industry have fallen to their lowest level in over a year and a half, according to a survey released on Wednesday, although many orders still cannot be processed with well over half of companies reporting issues.
In November, 59.3% of companies surveyed reported material shortages, the Ifo economic institute said, the lowest level since April 2021. This compared with 63.8% in October.
“The numbers give us hope. Nevertheless, it’s too early to say that the situation has fundamentally eased,” Klaus Wohlrabe, head of surveys at Ifo, said in a statement.
In the automotive industry, the share of companies facing shortages in fact rose from 74.9% to 83.2%, the survey showed. The situation eased for manufacturers of machinery and equipment but 78.7% of those companies still faced problems.
Manufacturers of basic metals saw fewest supply problems in November at 16.1%.
(Writing by Rachel More; Editing by Andrew Heavens)