The German economy is facing increasing challenges as the lack of orders worsens, according to the latest data from the ifo Institute. In July, 39.4 percent of companies reported a lack of orders, compared to 38.4 percent in April.
The manufacturing sector was hit particularly hard: the proportion of companies reporting insufficient orders rose from 39.5 percent in April to 43.6 percent in July.
In the textile sector, 66.5 percent of companies reported a decline in orders, which indicates a significant burden on this sector. In the clothing sector, 32.7 percent of companies also reported a decline in orders, according to the ifo Institute.
“The lack of orders is putting a strain on economic development in Germany. Almost every industry is affected,” said Klaus Wohlrabe, Head of Ifo Surveys.
The German economy is facing growing challenges as the shortage of orders worsens: In July, 39.4 percent of companies reported a lack of orders, compared to 38.4 percent in April. The manufacturing industry is particularly affected: 43.6 percent of companies have a lack of orders. The textile industry is particularly badly affected: 66.5 percent of companies reported bottlenecks.
Newsroom of Fibre2Fashion (DP)
