Lack of chips and bottlenecks in deliveries, car exports to Germany suffer
Collapses the German export of passenger cars in the third quarter. To weigh the lack of chips in the automotive industry and other delivery bottlenecks. According to data from the Federal Statistical Office, exports fell by 17.2% from July to September, compared to the same period last year. Germany exported cars for 23.1 billion euros ($ 26.03 billion) and imported vehicles worth € 11.2 billion in the quarter. These are the lowest levels since the second quarter of 2020.
74.4% of companies complain of bottlenecks and supply problems
Moreover, in the country things are not even better on the front materials: according to the Ifo note, the index that determines the sentiment of German companies, in November 74.4% of companies complained of bottlenecks and problems in the procurement of intermediate products and raw materials. This is four percentage points more than in October. “The pressures have not diminished as hoped,” says Klaus Wohlrabe, head of the Ifo research department. “There is no end in sight for the recession due to bottlenecks in the manufacturing sector”.
According to the analysis the number of companies with supply problems has increased in almost all sectors. The continued tightening in supplies, coupled with bloated order books, will certainly have an impact on price trends. “Never before have so many companies announced to increase their prices”, concludes the Ifo.
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