The German economy is grappling with a significant challenge as the latest ifo Business Survey reveals a noticeable uptick in the lack of orders across the manufacturing sector, particularly impacting textiles and apparel industries. In January, an alarming 41.1 per cent of companies in the textile manufacturing sector reported experiencing a shortage of orders, while the situation is little better in the manufacturing of wearing apparel, where 36.9 per cent of companies faced similar issues.
This concerning trend underscores a broader issue within the German manufacturing landscape, with 36.9 per cent of manufacturing companies overall citing a lack of orders in January, a slight increase from 36 per cent in October. This marks a significant rise from the same period last year, where only 20.9 per cent of companies reported such challenges. The surge in order shortages is particularly pronounced in energy-intensive industries, as per ifo.
“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 Germany, the textile and apparel manufacturing sectors are increasingly facing order shortages, with 41.1 per cent of textile companies and 36.9 per cent of apparel firms reporting a lack of orders in January.
This issue is part of a wider trend affecting the German manufacturing industry, where 36.9 per cent of companies experienced order shortages.#
Fibre2Fashion News Desk (DP)
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