BERLIN, July 26 (Reuters) – Shortages of materials are crimping output and pushing up prices at German industrial firms while the tourism and hospitality sectors fear a fourth wave of the coronavirus, Ifo economist Klaus Wohlrabe said on Monday.
Wohlrabe told Reuters that some 64% of industrial firms have reported bottlenecks in the supply chain, while 60% of wholesalers and 42.5% of retailers also complain of shortages.
Even in the tourism and hospitality sectors, which were among the worst-hit by lockdowns, euphoria has ebbed with many fearing a fourth wave of the coronavirus, he added.
But Wohlrabe still expects the economy to grow by 1.3% in the second quarter, and by a further 3.6% in the third quarter.
(Writing by Caroline Copley; Editing by Maria Sheahan)