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German manufacturing bottlenecks ease in January, Ifo says By Reuters

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© Reuters. FILE PHOTO: The Berlin skyline is seen, during the spread of coronavirus disease (COVID-19) in Berlin, Germany, April 1, 2020. REUTERS / Michele Tantussi / File Photo

BERLIN (Reuters) – The number of German manufacturing companies reporting bottlenecks and problems procuring intermediate products and raw materials eased to 67.3% in January from 81.9% in December, the Ifo economic institute said on Monday.

“Despite this development, companies still have much to worry about,” economist Klaus Wohlrabe said in a statement. “It remains to be seen if this is a reversal trend.”

Supply chain disruptions and restrictions introduced in the autumn to fight a fourth COVID-19 wave translated into a contraction of 0.7% in the fourth quarter in Germany, Europe’s largest economy.

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