German IFO’s Economist: Supply problems are weighing on the economy
|Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “supply problems are weighing on the German economy in both industry and retail.”
Additional quotes
Almost 64% of industrial firms complain of shortage in materials, prices have risen massively.
60% of wholesalers report shortages, 42.5% of retailers.
Industry cannot produce as much as they would like.
Tourism and consumer sector are worried about fourth coronavirus wave.
Still expect Q2 GDP to rise 1.3%, Q3 GDP by 3.6%.
Companies searching for more staff, especially in industry.
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