The business climate in the German auto industry has improved slightly after some time. In September the indicator rose to -14.7 points, after -18.1* points in August.
“German car manufacturers and their suppliers are satisfied with their current situation, but expectations remain low,” says Oliver Falck, head of the ifo Center for Industrial Economics and New Technologies.
Business climate in numbers
The automotive industry rated the current business situation at 20.9 points in September, after 13.2 in August. Expectations rose only slightly from -44.8 points to -44.6 points. The supply of important intermediate products remains tense. This was stated by 53% of the companies surveyed. Nevertheless, manufacturers and suppliers plan to increase their production in the next few months and pass on the increased manufacturing costs. The automotive industry is also preparing to manage with fewer staff.
“On the one hand, fewer employees are needed in the structural change to electromobility, and on the other hand, recruiting personnel is becoming more difficult due to the shortage of skilled workers,” explains Falck.
