🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Lack of orders weighs on German economy - Ifo

Published 02/05/2024, 02:43 AM
Updated 02/05/2024, 02:45 AM
© Reuters. FILE PHOTO: Employees work at the plant of German gas heating manufacturer Viessmann in Allendorf, Germany, August 9, 2022. REUTERS/Fabian Bimmer

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%.

© Reuters. FILE PHOTO: Employees work at the plant of German gas heating manufacturer Viessmann in Allendorf, Germany, August 9, 2022. REUTERS/Fabian Bimmer

"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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.