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Home Headlines Lack of orders weighs on German economy – Ifo
2024 02 05T074352Z 1 LYNXMPEK1407Z RTROPTP 4 UKRAINE CRISIS ENERGY SCHOLZ VIESSMANN

Lack of orders weighs on German economy – Ifo

by Uma Rajagopal
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Lack of orders weighs on German economy – Ifo

BERLIN (Reuters) – The lack of orders in manufacturing is increasingly becoming a burden on the German economy, the Ifo Institute said on Monday.

In January, 36.9% of manufacturing companies reported a lack of orders, up from 36.0% in October, according to Ifo’s surveys. A year ago, the proportion was just 20.9%.

“The lack of orders has worsened noticeably over the past year. Hardly an industry has been spared,” said Klaus Wohlrabe, head of surveys at Ifo. “What’s more, order backlogs are shrinking.”

In the service sector, 32.1% of the companies reported a lack of orders in January.

 

(Reporting by Maria Martinez, Editing by Rachel More)

 

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Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.