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VDMA revised down its production growth forecast for the year to 7% from its September estimate of 10%.
Engineering orders rose by 34% in real terms in the first ten months of 2021, but production rose by only 7.2% in the same period, VDMA added.
“We could have produced more had the various supply bottlenecks not been so persistent,” VDMA President Karl Haeusgen said in a statement.
The association, which raised its production forecast for 2022, said it expects the bottlenecks to persist at least until the second quarter of next year.
