German IFO’s Economist: Supply chain problems are causing trouble for companies
|Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “supply chain problems are causing trouble for companies, production capacities are falling.”
Additional quotes
Supply chain problems are causing trouble for companies, production capacities are falling.
In the manufacturing sector, business sentiment has fallen, same with services and trade.
German economy is facing an uncomfortable autumn.
Problems in industry are still virulent, procurement issues are leading to sinking capacity.
In auto sector capacity utilization has fallen to 78.2 from 85.2.
Supply chain problems are impacting stores.
Bottlenecks in industry have not tightened further in October.
German GDP to grow by around 0.5% in Q4.
Rise in coronavirus cases has not impacted tourism, hospitality industry in October yet.
Every second German industrial company wants to raise prices.
EUR/USD remains capped below 1.1670
EUR/USD is keeping its range trade intact below 1.1670 amid a better market mood and mixed German data. The spot was last seen trading at 1.1657, adding 0.08% on the day.
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