No end to supply bottlenecks in sight
Companies expect the shortage of materials in German industry to continue for another ten months. This is shown by a survey conducted by the Ifo Institute. 74.1 percent of the companies surveyed complained about bottlenecks and difficulties in the procurement of intermediate products as well as raw materials. In the month before, 77.2 percent of the companies complained about this.
“The hoped-for easing in supply chains is shifting further and further back,” comments Klaus Wohlrabe, head of Ifo Surveys. He adds that supply bottlenecks have become part of everyday life for many companies.
Supply problems until 2023
The Ifo Institute goes on to report that the majority of companies in key industrial sectors continue to struggle with supply problems. About 90 percent of firms in the electrical, mechanical engineering and automotive industries say they are not receiving all the input products and materials they need.
All sectors expect supply problems to continue this year. According to the Ifo Institute, metal production and processing has the shortest expected duration of supply bottlenecks at 7.2 months. The longest expected duration of supply bottlenecks is found in the beverage industry and amounts to about 13.1 months.