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BERLIN (Reuters) – Supply cuts to German industry rose sharply in November, with 74.4% of companies reporting problems with input and raw materials, a 4-point increase from October, the Ifo institute said.
“There is no indication of the expected relief,” said Klaus Wohlrabe, director of the Munich institute, warning that the cuts will come at a price.
“Never before have so many companies said they intend to raise prices,” Wohlrab added.
The Munich-based institute said in a survey of German companies it found stricter supply cuts in all sectors except the electrical equipment sector, where the share of companies reporting problems fell from 90% to 85%.
It remains one of the most affected sectors, along with the machine building sector, where 86% had problems, and the automotive sector, where 88% had problems. The least affected sector was the manufacture of beverages, where only 40% indicated bottles.
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