German IFO’s Economist: Supply chain problems are causing trouble for companies

Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “supply chain problems are causing trouble for companies, production capacities are falling.”

Additional quotes

Supply chain problems are causing trouble for companies, production capacities are falling.

In the manufacturing sector, business sentiment has fallen, same with services and trade.

EUR/USD remains capped below 1.1670

EUR/USD is keeping its range trade intact below 1.1670 amid a better market mood and mixed German data. The spot was last seen trading at 1.1657, adding 0.08% on the day.