August 25, 2021
BERLIN (Reuters) – Activity in Germany’s industrial sector remains at a high level but manufacturers are worried about disruption caused by shortages of semi-conductors, plastics and metals, Klaus Wohlrabe of the Ifo economic institute said on Wednesday.
“70% of manufacturers complain about bottlenecks, up from 64% in July,” he said. “Export expectations have fallen but remain at a good level.”
He said half of companies in both manufacturing and retail wanted to increase prices to make up for higher costs and that rising coronavirus infections have resulted in a sharp fall in expectations in hospitality and tourism.
(Reporting by Rene Wagner; Writing by Joseph Nasr; Editing by Madeline Chambers)
Source: One America News Network
