In almost all manufacturing industries, the number of companies experiencing material shortages has fallen. Industries involved in the manufacturing of textiles and apparel showed material shortages of 33.5 per cent and 38.1 per cent, respectively, according to a press release by Ifo Institute.
Material shortages have eased noticeably in German manufacturing with only 50.7 per cent of surveyed companies reporting problems in December 2022 compared to 59.3 per cent in November—the third consecutive fall, as per Ifo Institute. In almost all manufacturing industries, the number of companies experiencing material shortages has fallen.
“Shortages appear to be easing in many industries,” said Klaus Wohlrabe, head of surveys at Ifo. “This will shore up the economy in the months ahead. However, depending on the development of the corona situation in China, there may be setbacks in the bottlenecks again.”
Fibre2Fashion News Desk (NB)