Material shortages faced by Germany's manufacturers continued to ease in February to its lowest level since early 2021, survey data from the ifo institute showed Monday.
In February, 45.4 percent of the companies surveyed reported problems with securing materials, which was the lowest level since April 2021. In January, the figure was 48.4 percent.
"Many companies still can't ramp up production as desired," Klaus Wohlrabe, head of surveys at ifo, said.
"Fortunately, however, there are currently no signs that material shortages could worsen again."
The survey found that more than 70 percent of manufacturers of machinery and equipment, electrical and electronics companies, and automakers faced bottlenecks in raw materials and intermediate products.
The situation continued to ease in the chemical industry, and in energy-intensive industries such as paper, plastics and glass. The share of companies that reported shortages in the latter group was below 20 percent.
The paper industry was one of the least affected, with just 9.1 percent of firms reporting problems.
by Jyotsna V
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