The Munich-based Ifo Institute reported on Monday that the German economy is being significantly impacted by a shortfall in orders.
According to the institute, 41.5% of companies cited a lack of orders last month, an increase from 39.4% in July. This figure is the highest recorded since the financial crisis of 2009.
“In the manufacturing sector, almost half of all companies (47.7%) reported a shortage of orders,” the institute stated. It noted that key industries, including mechanical engineering and the metal and electrical sectors, are particularly concerned.
For service providers, the percentage experiencing order shortages rose slightly from 31.2% to 32.1%, the institute added.
