BERLIN—A group representing Germany’s machinery industry said Tuesday it expects a weaker rebound in production this year than previously forecast because of persistent supply chain bottlenecks.
The VDMA group said it now expects production to grow by 7 percent this year to a value of about 219 billion euros ($247 billion), down from the 10 percent it predicted in September. Last year, production of machinery—a major German export—dropped by nearly 12 percent.
