Technical Analysis

German manufacturing companies are reaching their gas savings limit – Ifo

According to Ifo’s latest survey among German manufacturing companies, nearly 59% of firms use natural gas in their production processes. Of those, 75% have saved on gas in the past six months without reducing production. However, Ifo says that “the potential for further savings without a drop seems to be running out”.

Adding that in the next six months, only around 39% would be able to further reduce their gas consumption while keeping production at similar levels. The gas problems for Germany continue to pile up it would seem, after Verivox warned last week that households will face another round of price hikes in January.

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