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Shortages of materials and raw materials have eased in Germany, raising hopes for the resilience of the country's economy during a period of high inflation and energy concerns.

The share of German companies reporting material shortages fell in December to 50.7 percent from 59.3 percent in November, marking a third straight month of decline, results from a monthly survey by Germany's Ifo economic institute showed.

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"Shortages seem to be easing in many industries. This will strengthen the economy in the coming months," said Klaus Vollrabe, head of Ifo research.

However, Wollrabe warned that there could be difficulties on the horizon depending on the Covid-19 situation in China.

In almost all manufacturing industries, the number of companies experiencing material shortages has decreased.

Still, machinery and equipment manufacturers and the automotive industry continue to be the hardest hit, with around 75% of these companies still reporting shortages.

In the electrical and electronics industry, 63.7% of companies remain with similar complaints.

Easing supply chain disruptions lead to a growing share of businesses reporting a slowdown in commodity inflationary pressures.