Ifo economist says virus, bottlenecks hit German economy

Author of the article: BERLIN — German retailers are suffering from the impact of a fourth wave of the coronavirus pandemic, half of manufacturers are expecting price increases and industry export expectations have fallen, Ifo economist Klaus Wohlrabe said on Friday. “Father Christmas has fewer presents for the German economy this time, partly because not…
Ifo economist says virus, bottlenecks hit German economy

Author of the article:

BERLIN — German retailers are suffering from the impact of a fourth wave of the coronavirus pandemic, half of manufacturers are expecting price increases and industry export expectations have fallen, Ifo economist Klaus Wohlrabe said on Friday.

“Father Christmas has fewer presents for the German economy this time, partly because not everything can be delivered,” Wohlrabe told Reuters.

“Procurement problems for raw materials and intermediate products have worsened,” he said, but added expectations in the industrial sector have risen as order books continue to fill: “That is a silver lining on the horizon.”

(Reporting by Rene Wagner Writing by Paul Carrel Editing by Maria Sheahan)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Czech brewer Budvar again increases net profit amid pandemic
Read More

Czech brewer Budvar again increases net profit amid pandemic

Author of the article: FILE - A truck drives past cases of beer at the Budejovicky Budvar brewery in Ceske Budejovice, Czech Republic, Monday, March 11, 2019. Budvar, the Czech brewer that has been in a long legal dispute with U.S. company Anheuser-Busch over use of the Budweiser brand, said Wednesday, June 29, 2022 its…
Police arrest Macau’s No 2 junket boss in crackdown – media
Read More

Police arrest Macau’s No 2 junket boss in crackdown – media

Author of the article: HONG KONG — Police in Macau, the world’s biggest gambling hub, said on Sunday they had arrested two men for alleged illegal gambling and money laundering, as authorities step up a crackdown on illicit capital outflows from the Chinese mainland. “One of the men involved was responsible for operating an illegal…
S.Korea’s incoming govt considers joining U.S. economic pact
Read More

S.Korea’s incoming govt considers joining U.S. economic pact

Author of the article: SEOUL — South Korea is “positively considering” joining an Indo-Pacific economic pact planned by the United States, a government official said on Monday, after domestic media said the incoming administration had decided to join as a founding member. The Indo-Pacific Economic Framework (IPEF) could launch as soon this month, to fill…
Explosions rock Ukrainian capital Kyiv, mayor says
Read More

Explosions rock Ukrainian capital Kyiv, mayor says

Author of the article: KYIV — Kyiv was rocked by several explosions early on Sunday, the mayor of the Ukrainian capital said, a day after officials said troops had recaptured a swath of the battlefield city of Sievierodonetsk in a counter-offensive against Russia. “Several explosions in Darnytskyi and Dniprovskyi districts of the capital,” Kyiv Mayor…