Supply chain disruptions cloud German machinery outlook

BERLIN (AP) — A group representing Germany’s machinery industry says it expects a weaker rebound in production this year than previously forecast because of persistent supply chain bottlenecks. The VDMA group said Tuesday it now expects production to grow by 7% this year. That’s down from the 10% it predicted in September. Machinery is a major German export and production dropped by nearly 12% last year. But companies expect to be able to work through their order backlog next year. So VDMA increased its forecast for 2022 from a 5% increase in production to 7%.