The corona lockdowns in China are exacerbating the material shortage in German industry. In the latest company survey by the Ifo Institute in May, 77.2 percent of companies complained about material shortages and delivery problems, after 75 percent in April. “The closure of ports in China has further worsened the situation for many companies,” said Ifo survey manager Klaus Wohlrabe in Munich on Monday. The massive disruption of the logistics chains will therefore noticeably delay the economic recovery.
Around half of the companies in the survey said that the lockdowns in China had exacerbated supply problems. Almost all key industries are badly affected, most of all mechanical engineering, where 91.5 percent of companies complained about delivery problems. (dpa)