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Germany's industrial order backlog the highest since 1969 - Ifo

Published 02/10/2022, 03:29 AM
Updated 02/10/2022, 03:31 AM
© Reuters. FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020, Swen Pfoertner/Pool via REUTERS

BERLIN (Reuters) - Germany's industrial order backlog is the highest in more than 40 years and could give the economy a boost if supply bottlenecks ease, Ifo Institute said on Thursday.

There had never been such a high order backlog since Ifo started asking companies about it in 1969, Timo Wollmershaeuser, head of Ifo economic forecasts, said in a statement.

Incoming orders in the past few months often could not be processed due to shortages in preliminary and raw products, he said.

© Reuters. FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020, Swen Pfoertner/Pool via REUTERS

"Should the bottlenecks resolve in the coming months, production in the German industry could take off," Wollmershaeuser said. "That should then give a strong boost to economic output."

Ifo said order books were particularly full in the automotive industry and in mechanical engineering.

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