By Gokhan Ergocun
ISTANBUL (AA) – The competitiveness of German manufacturers of machinery and equipment has declined, the Munich-based ifo Institute said in a survey released on Wednesday.
"In sales markets outside the EU, German manufacturers of machinery and equipment are facing fiercer competition, especially from China," said Nicolas Bunde, an industry expert at the ifo Institute.
The institute’s survey score for competitiveness dropped from 7.3 points in April to 14.3 points in May, the lowest level since data collection began in July 1994.
The sector's main issues are a lack of suitable skilled workers and a shortage of important intermediate products, the institute said, adding: "Many of the employees in production are older, while younger colleagues are rarely keen on shift work."