German firms avoid effects of Japanese quake, tsunami: Ifo

1st June 2011, Comments 0 comments

German companies have been "hardly affected" by supply problems stemming from the Japanese earthquake, tsunami and nuclear accident, a study by the economic research institute Ifo has found.

An Ifo survey of 1,600 firms found that just 18 percent reported supply problems following the March 11 catastrophe that killed some 15,000 people.

"Most of them have been able to resort to other suppliers," and so very few production restrictions have been suffered as a result, a statement said.

Ifo noted two exceptions to the overall findings however.

A significantly larger number of manufacturers of electronic and optical products, and automakers reported delivery bottlenecks, at 44 percent and 42 percent, respectively.

But only seven percent and 13 percent said they had been forced to reduce output as a result.

In the coming months, "isolated production setbacks could be experienced by 12 percent of the manufacturers of electrical equipment as well as by 10 percent each of the electronics and optics enterprises and the car manufacturers," Ifo estimated.

© 2011 AFP

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