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October 2023 brings relief in material shortages for Germany

17 Nov '23
1 min read
Pic: Adobe Stock/ Aleksandr Matveev
Pic: Adobe Stock/ Aleksandr Matveev

Insights

  • In October 2023, 18.2 per cent of German companies reported a drop in material shortages.
  • This reduction was noted across manufacturing sectors, including machinery, where about a quarter of firms faced supply bottlenecks.
  • Supply problems in the manufacturing sector had peaked in December 2021, when 82.4 per cent of companies identified it as a concern.
German manufacturing is seeing a considerable reduction in material shortages. In October 2023, 18.2 per cent of the companies surveyed reported shortages, down from 24.0 per cent in September 2023.

Among manufacturers including those of machinery, around one in four reported supply bottlenecks. Supply problems in the manufacturing sector peaked in December 2021, when 82.4 per cent of companies reported it as an issue, ifo Institute said in a press release.

“Things are almost back to pre-crisis levels,” said Klaus Wohlrabe, head of surveys at ifo. “Companies should plan now for future shortages, diversify their supply chains, and increase inventory levels.”

ALCHEMPro News Desk (NB)

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