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German Supply Chain Shortages Ease but Long Way to Go - Ifo

BERLIN, March 30 (Reuters) - German manufacturers are seeing fewer material shortages but Europe's largest economy is still a long way away from an ideal supply situation, according to an economic survey published on Thursday.

In March, 41.6% of the companies reported problems, down from 45.4% in February, the ifo institute said.

"This easing will have a positive impact on industrial production in the months ahead," said Klaus Wohlrabe, head of surveys at ifo.

However, there has not yet been a fundamental reduction in procurement barriers in some of Germany's key manufacturing industries, the institute said in a statement.

More than 60% of manufacturers of machinery and equipment, electrical and electronics companies, and automakers reported bottlenecks in raw materials and intermediate products, according to the survey.

Reporting by Rachel More; Editing by Bernadette Baum

Source: Reuters

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