Home breadcru News breadcru Industrial breadcru Material shortages in German industry drop by 0.4% in Sept 2023: ifo

Material shortages in German industry drop by 0.4% in Sept 2023: ifo

11 Oct '23
1 min read
Pic: Shutterstock/Alba_alioth
Pic: Shutterstock/Alba_alioth

Insights

  • The German manufacturing sector has seen a slight improvement in supply chain issues, with 24.0 per cent of companies reporting material shortages in September, a small drop from 24.4 per cent in August.
  • The textile industry also fares better at 10.3 per cent, as per a report.
  • Leather goods manufacturing is least affected with zero supply issues.
The German manufacturing sector is witnessing a marginal improvement in the supply chain issues that have been plaguing the industry. The number of companies reporting material shortages in September dropped to 24.0 per cent from 24.4 per cent in August, as per the ifo Institute.

Industries such as leather goods manufacturing at 0 per cent are least affected by these supply chain issues. The textile industry also shows relatively lower disruptions, with only 10.3 per cent of mentions indicating shortages, the ifo Institute said in a press release.

In most other sectors, the share of companies facing such issues is below 40 per cent and, in many cases, even lower than 20 per cent. Notably, machinery and equipment manufacturers at 36.3 per cent among others are still struggling more than the industry average.

“Things are settling down,” said Klaus Wohlrabe, head of surveys at the ifo Institute, suggesting a cautiously optimistic outlook for the German manufacturing landscape.

ALCHEMPro News Desk (NB)

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