Material shortages in industry are increasing
According to a survey by the Ifo Institute, the material shortage in German industry has worsened again. Almost three fourths of the companies complained about bottlenecks and problems with the procurement of preliminary products and raw materials.3 Mar 2022
In January, with 67.3 percent, there were still signs of relaxation. The hoped-for trend reversal for the industry will therefore not materialize. The war in Ukraine will lead to further shortages of raw materials. Siegfried Russwurm, president of the German Industry Association (BDI), told the German Press Agency that the situation is unclear. “Currently, delivery bottlenecks for raw materials and intermediate goods are increasing significantly after a few weeks of relaxation on the markets. The war in Ukraine is causing companies additional uncertainty when it comes to importing raw metals and metal-bearing materials.”
The shortage of materials affects all branches of German industry, but especially the key sectors. For example, 89 percent of companies in the automotive industry and mechanical engineering report delivery problems. Manufacturers of data processing devices and electrical equipment follow closely behind with roughly 88 percent each. As such, it remains difficult for industry to fulfill orders.
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