Surge in order shortages hits German textile manufacturing in Jan 2024

This concerning trend underscores a broader issue within the German manufacturing landscape, with 36.9 per cent of manufacturing companies overall citing a lack of orders in January, a slight increase from 36 per cent in October. This marks a significant rise from the same period last year, where only 20.9 per cent of companies reported such challenges. The surge in order shortages is particularly pronounced in energy-intensive industries, as per ifo.

“The lack of orders has worsened noticeably over the past year. Hardly an industry has been spared,” said Klaus Wohlrabe, head of surveys at ifo. “What’s more, order backlogs are shrinking.”

ALCHEMPro News Desk (DP)