German Manufacturers See Materials Shortages Extending Into 2023 – Ifo

A shortage of materials among German manufacturers will continue for at least another 10 months, a survey of companies in the sector by the Ifo economic institute showed on Wednesday.

Some 74.1% of 2,000 companies surveyed complained about bottlenecks and problems procuring intermediate products and raw materials in June, easing slightly from 77.2% in May.

“The hoped-for easing in supply chains is constantly getting pushed back,” Ifo economist Klaus Wohlrabe said in a statement. “Supply bottlenecks are now unfortunately part of everyday life for many companies.”

(Writing by Paul Carrel, editing by Rachel More)