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Ifo economist says virus, bottlenecks hit German economy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A woman in a protective mask walks past a gingerbread with a message reading Merry Christmas, while a pandemic of coronavirus (COVID-19), continues to spread. This was Frankfurt, Germany. November 2, 2012.

BERLIN (Reuters), German retailers are feeling the effects of a fourth coronavirus outbreak. Half of German manufacturers expect price rises, and the industry’s export outlook has fallen. Klaus Wohlrabe, Ifo economist, said Friday.

Wohlrabe said that Father Christmas is less likely to bring gifts for Germany’s economy, as not all presents can be delivered.

According to him, “Procurement issues for raw materials have worsened.” However, he added that the expectations of the industrial sector have increased as the order books fill. “That is a silver-lining on the horizon.”

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