6 Oct. 2021 14:53 Uhr
In August 2021, Germany recorded a 7.7 percent decline in industrial orders compared to July. The main reasons for this are disrupted supply chains and a lack of intermediate products such as chips, which has an impact on the automotive industry.
The German industry is now clearly feeling the problems of the supply chain and the global shortage of chips: As the Federal Statistical Office announced, the industry received 7.7 percent fewer orders in August this year than in July. The sharp decline in August was also partly caused by earlier orders for planes, ships and other large vehicles, which increased orders by 4.9 percent in June and 4.6 percent in July. But even without this distorting effect, industrial orders still fell by 5.1 percent in August.
The automotive industry is particularly hard hit: in the industry, orders plummeted by 12 percent in August. Automotive expert Peter Fuß told the daily Newsthat because of the semiconductor shortage, millions of cars could not be built. This leads to canceled orders at supplier companies:
“It is now impossible that we will even come close to the pre-crisis year 2019 this year – sales will actually be lower than in the Corona year 2020.”
The supply bottlenecks also hit the metalworking companies hard, with orders falling by 12 percent. In the consumer goods segment, orders fell by 2.7 percent.
Economic research institutes and international organizations such as the World Bank and the OECD had significantly lowered their growth forecasts for the German economy. Because the companies are sitting on well-filled order books, but cannot keep up with production due to bottlenecks and a lack of preliminary products such as microchips. The Kiel Institute for the World Economy had also lowered its growth forecast from 3.9 to 2.6 percent.
More on the subject – Global chip shortage: Opel Eisenach closes – initially until the end of the year